Coffee Price Today September 6, 2022: The price of Robusta coffee in London for September delivery in September 2022 decreased by 8 USD/ton to 2,212 USD/ton.
Coffee Price Today September 6, 2022: Continuing on a Deep Downward Trend
In the week’s first session, the New York market was not active due to a holiday. In position one and one call, Robusta’s price decreased slightly on the London floor. Ending the last trading session of the week, the price of Robusta coffee in London for September 2022 fell by 8 USD/ton to 2,212 USD/ton, and the price for November delivery in November 2022 decreased by 6 USD/ton to 2,217 USD/ton.
Meanwhile, the price of arabica coffee delivered in September 2022 on the New York Stock Exchange fell 3.7 cents/lb to 232.65 cents/lb, for December 2022, delivery dropped 3.7 cents/lb at 228.8 cents/pound.
The market is still worried about the Fed’s upcoming 0.75% rate hike. Money flow continued to flee into the USD, and commodity market prices fell mainly due to concerns that major central banks would raise interest rates further. Commodity demand started the session on September 6 ( Vietnam time) in the US market weakened, and the US Dollar Index (DXY ), which measures the six major dollar movements (EUR, JPY, GBP, CAD, SEK, CHF), surged 0.25% to 109. ,79. It recovered in the last session to 110.27, its highest since June 2002, before dropping slightly by 0.2% to 109.74.
Compliant coffee stocks in London fell by 850 tonnes to 94,750 tonnes on August 31, while New York compliance stocks rose slightly. As a result, Robusta prices have fallen somewhat. Then Arabica because it is supported by holding information.
Coffee World News: Starbucks appoints Laxman Narasimhan as its next CEO.
Starbucks has announced that Laxman Narasimhan will become the company’s next CEO on October 1, 2022.
Narasimhan was previously the CEO of Reckitt Benckiser, a UK-based health and hygiene company that manufactures and distributes products including Nurofen, Gaviscon and Durex products.
Narasimhan has served as Global Chief Commercial Officer at PepsiCo, CEO of PepsiCo Latin America and Chief Financial Officer of PepsiCo Americas Food.
Narasimhan will oversee Starbucks’ renewable strategy, currently led by Interim CEO Howard Schultz, which includes efforts to improve working conditions for employees and deliver on sustainability goals. Corporate ambitions and drive innovation in the customer experience.
Specific details of the plan are expected to be shared during the company’s investor meeting on September 13, 2022.