Speculators returned to increase purchases, Vietnam still has a lot of room to boost exports to the EU

Coffee prices in the country slightly increased by 100 dong/kg at key purchasing localities in the trading session on March 22. (Source: Rodeo West)

Coffee price today 23/3

While the price of arabica futures on the New York Stock Exchange adjusted slightly, after a strong increase – more than 2%, the price of Robusta coffee adjusted slightly. The real exchange rate rose sharply by 1.45% to 4.9440 = 1 USD, the highest level in the past half a year, supporting Brazil’s key agricultural products.

Speculators on the New York Stock Exchange have turned to buy again after strongly liquidating their net positions last week. Meanwhile, consumption in Eastern Europe has been stagnated because of Western embargoes with about 3 million bags/year, which is just enough to make up for the shortfall according to the latest report of the International Coffee Association. economy (ICO).

Closing the session yesterday (March 22),asia robusta coffee on ICE Futures Europe – London adjusted slightly, delivery in May 2022 decreased by 5 USD (0.23%), traded at 2,170 USD/ton. Meanwhile, the term for delivery in July 2022 decreased by 3 USD (0.14%) and traded at 2,142 USD/ton. Low trading volume.

HOLDArabica coffee on ICE Futures US – New York increased slightly, delivery in May 2022 increased by 0.45 Cent (0.20%), trading at 225.1 Cent/lb. Fairly average increase in trading volume.

Information coffee market

The market speculated that Copom – Brazil could raise the base interest rate of the Real by 0.25% – 0.5% at the next policy meeting. Fed – The US also announced that it must act “quickly” to control inflation that is too high.

Recently, the Import-Export Department (Ministry of Industry and Trade) forecast that in 2022, Vietnam’s coffee exports will continue to grow positively thanks to global consumer tastes increasingly favoring healthy products.

In 2022, the EU’s coffee import market capacity is very large, Vietnam still has a lot of room to boost exports, especially the top 5 markets in the world such as the US, Germany, France, Canada and Italy thanks to its advantages. on export tax rates and an increased supply of high-quality coffee.

However, despite the positive forecast, experts say that clearly, to meet the strict requirements from fastidious markets like the EU, the Vietnamese coffee industry still has a lot of work to do.

In addition to improving product quality, our country’s coffee industry is also focusing on improving production capacity, traceability, digitization from production to sales to enhance competitive advantages in the market. international.

In fact, increased import demand in importing countries will stimulate export coffee prices. However, at present, sea freight continues to be a barrier for exporters. At this point, shipping lines are no longer competing with each other, but they are shaking hands to raise prices and withdraw ships. The demand of businesses is very much but empty containers are not available, the price of containers is 10-20 times more expensive than before the epidemic and it is not known when it will cool down.