Coffee prices today October 22, 2022: Robusta coffee prices fell to $2,000/ton while Arabica continued to decline. The price of Robusta coffee in London for November delivery in November 2022 decreased by 44 USD / ton to 2001 USD / ton. The Arabica coffee for December delivery fell 0.15 cents/lb to 190.9 cents/lb
Coffee prices today October 22, 2022: Coffee prices turn down
Ending the last trading session last week, the price of Robusta coffee in London for November delivery in November 2022 decreased by 44 USD / ton to 2001 USD / ton, and delivery in January 2023 decreased by 45 USD / ton to 1996 USD / ton.
On the New York Stock Exchange, arabica coffee for December delivery fell 0.15 cents/lb to 190.9 cents/lb, while March 2023 delivery was down 0.6 cents/lb 185, 8 cents/pound.
Immediately after a strong increase again, the price of Robusta coffee was pulled to the area of $ 2,000 / ton, while Arabica continued to decrease.
Explaining the spike in the previous session, experts said. mainly thanks to technical buying after USDX fell into the “oversold” zone and USDX dropped. When the above factors pass, the coffee market continues to decline.
The dollar continued to rise amid market concerns about the Fed raising interest rates by 0.75% at its next meeting in two weeks. This UK inflation rate, as well as the energy crisis in Europe, has had a significant impact on coffee demand in the UK and the region.
Sales on the New York Stock Exchange remained substantial due to selling pressure from Brazil’s new crop and production of high-quality wet-processed arabica. Colombia, Mexico, and the whole of Central America started harvesting the new crop early.
Wet-processed Arabica coffee is the new staple on the New York Stock Exchange. Semi-washed Arabica coffee from Brazil was recently approved for auction on this exchange. at a fixed discount of 10 cents a pound after decades of negotiating over quality issues.
World Coffee News: LEON aims to have 100 stores by the end of 2022
By the end of the year, the UK-based coffee and food chain could have 100 locations. It is now growing its footprint in London. As part of its strategy to run 100 stores overall by the end of the year, LEON will establish three more sites around London. After recently opening additional locations in Angel, Waterloo Bridge, and Kensington, more locations will shortly open in Brixton, Euston Road, and Battersea before further locations in Clapham and Southbank by the end of 2022.
Currently, LEON runs more than 80 locations in the UK and three in the Netherlands. In addition to growing its presence outside of London, LEON recently opened shops in Harrogate and Milton Keynes.
Following the introduction of the new counter style and drive-through format in Leeds in the latter half of 2021, LEON has also increased its geographic reach outside of London with the opening of recently in Harrogate and Milton Keynes. Along with expanding its retail footprint in the UK, LEON has also started its own branded self-service cafés at 68 EG-run gas stations all around the nation. In July 2022, the UK.
The EG Group bought the business in April 2021. The owner of the petrol station, who also runs authorized franchises for well-known companies including Starbucks, Cinnabon, and Greggs, claimed service earnings. In Q2 2022, foodservice revenue increased 11% at $177 million.