Coffee prices on the world market increased today (June 8). Of which, robusta coffee prices reached 2,674 USD/ton after increasing by 2.3%.
Update world coffee prices
According to records, coffee prices on the world market increased. Specifically, the online price of robusta coffee in London for delivery in July 2023 was recorded at 2,674 USD/ton after increasing by 2.3% (equivalent to 60 USD).
The price of Arabica coffee for July 2023 delivery in New York was at 185.4 US cents/pound after increasing 1.53% (equivalent to 2.8 US cents) at the time of survey at 6:20 a.m. (Vietnam time).
Photo: Anh Thu
El Niño is a periodic warming of the Pacific Ocean that has a major impact on weather around the world. This includes influencing rainfall and temperature.
For the world's largest producers of robusta beans, Brazil and Vietnam, the impact could result in reduced production, according to Weather and Radar.
In 2015, El Nino contributed to a drought in Brazil’s Espirito Santo state, one of the country’s major producers of robusta coffee. Production that season fell by 40% due to El Nino-induced weather changes.
Since then, Brazil has invested heavily in features to help avoid such an impact, including new irrigation methods and larger water reservoirs to survive any drought.
The two widely used coffee beans are robusta and arabica. Robusta beans generally have a higher caffeine content, while arabica beans are often used to make instant coffee.
If robusta harvests are reduced again as they were during previous El Niño cycles, we could see quality decline and prices rise. Prices are already at 15-year highs due to concerns about the impending impact.
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