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Friday, 10 February 2023 03:12

Arabica coffee prices fall in relatively stable session to US$175.60

Written by Evelyn Alas
Arabica coffee prices fall in relatively stable session to US$175.60

According to the Consejo Salvadoreño del Café (CSC), Arabica coffee prices decreased this wednesday in a relatively stable session. The activity revolves around the change of contract to may/23 that will take place next february 17, prices traded in the narrow range of US$3.30. The high for the day was at US$177.60 and the low was at US$174.30.

Inventories monitored by the Intercontinental Exchange (ICE) increased today to 892 thousand 60 kilogram bags, with only 3 thousand bags pending. The increase in supplies represents a bearish factor for prices, due to the confidence it generates in traders and investors.
 
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Vietnam's General Statistics Office (GSO) confirmed that the Asian country's coffee exports increased in 2022. The GSO estimates a volume increase of 14% versus 2021 exports, totaling US$29.67 million 60-kilogram bags.
 
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The brazilian exporter released its 2023 crop estimate, indicating that production volume will be up 10.2% over the 2022 crop. This leads Brazil's production potential to 64 million bags of 60 kilos, of which 41.3 million bags correspond to Arabica coffee, with an advance of 15.8%.
 
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Salvadoran coffee has a good reputation worldwide, which is given by the sweetness, body and acidity of its beans, attributes that delight not only the palate, but also the sense of smell of those who taste it.
 
 

Translated by: A.M

 
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