Coffee price today August 30, 2022: The price of Robusta coffee on ICE Futures Europe – London for delivery in November decreased by 33 USD (1.43%) and traded at 2,279 USD / ton by the time of delivery.
Coffee price today August 30, 2022: Robusta and Arabica slightly decrease
Ending the trading session on August 29, the cost of Robusta coffee on ICE Futures Europe – London for delivery in November decreased by 33 USD (1.43%). It traded at 2,279 USD / ton by the time of delivery, down 34 USD. (1.48%) in January 2023, trading at $2,260/ton. Average trading volume.
The price of arabica coffee on the ICE Futures US – New York for delivery in December was adjusted down 1.5 cents (0.63%) to trade at 236.6 cents/lb. Meanwhile, futures for March delivery fell 1.2 cents per pound (0.52%) to trade at 230.45 cents per pound. The trading volume is above average.
However, at the end of a substantial increase week, coffee prices simultaneously reversed to a decrease, in which the cost of Robusta coffee plunged, showing the unsustainability of the uptrend in recent days. Before that, Arabica coffee prices were at a six-month high, and Robusta coffee prices in London were at a 7.5-month high shortly after the September futures option expired.
The inventory report continues to be used by speculation to push prices up on both futures exchanges. Starting Monday, August 22, stocks of Robusta coffee are traded on the sale. Distribution tracking and certification London dropped another 1,700 tonnes or 1.73% from last week to a record stock level of 96,480 tonnes (equivalent to 1,608,000 bags, 60 kg bags).
Meanwhile, ICE US – New York inventories are at a 23-year low with no additions other than “pending re-examination measures” of quality. from some old stock that has been dismantled before.
Coffee news today: Vinacafe announced positive half-year revenue
Vietnamese instant coffee maker Vinacafe Bien Hoa posted 19% revenue growth in the first half of 2022, reaching VND950 billion ($40.6 million).
Vinacafe instant coffee and Wake-up 247 coffee-flavoured energy drinks contributed to the total revenue of VND 800 billion (USD 34 million); the remaining payment came from cereal packages.
For the whole year, Vinacafe targets revenue of 2.5-2.9 million VND (US$106 million – US$124 million) and profit of VND 500-600 billion (US$21 million – US$26 million). dollars), both will require a special second half of 2022.
The company said it would continue to promote coffee-based beverages and launch new products to meet the ‘unmet need of Vietnamese customers.
Last year, revenue and profit were VND2.2 million ($94 million) and VND430 billion ($18 million), respectively.