World markets fell on the first day of the week

Coffee prices today (June 12) on the world market decreased. Of which, the price of robusta coffee was recorded at 2,728 USD/ton after decreasing 1.16% (equivalent to 32 USD).

Update world coffee prices

According to records, coffee prices on the world market have decreased. Specifically, the online price of robusta coffee in London for delivery in July 2023 was recorded at 2,728 USD/ton after decreasing by 1.16% (equivalent to 32 USD).

The price of Arabica coffee for July 2023 delivery in New York was at 190.65 US cents/pound after decreasing 2.16% (equivalent to 4.2 US cents) at the time of survey at 6:30 a.m. (Vietnam time).

Photo: Anh Thu

El Nino is increasing the tension not only in India but all over the world. Monsoon has knocked on the door of Kerala but along with it El Nino has also started. Monsoon can be affected by this.

El Nino occurs every four years. US weather agencies have confirmed that an El Nino is starting to form in the Pacific Ocean . India has seen about 10% less rainfall as a result of El Nino. But India is not the only country worried about the possibility of an El Nino. This has raised tensions among many countries around the world.

There has been a shortage of coffee in many countries around the world. El Nino could cause more trouble for a world already struggling with inflation, according to Nav Bharat Times.

Prices of soft commodities such as coffee, chocolate and orange juice have risen significantly this year due to tight supplies, a situation made worse by the return of El Nino and the possibility of warming in the countries that produce these commodities, Bloomberg reported.

In the UK, for example, shopkeepers store jars of instant coffee in safety boxes to protect them from theft. Similarly, a major Japanese soft drink company has stopped selling Tropicana orange juice due to shortages. Chocolate and biscuit makers in Germany have complained that sugar and cocoa prices are out of their reach.

Coffee prices hit their highest level since 2008 last week. Soft commodities are up 24% this year, but wheat and corn prices are trending lower. Experts say bread and pasta prices will fall, but sugar, coffee and chocolate will rise.

Meanwhile, Brazil’s coffee bean output is likely to fall by 5%. Production in Indonesia, the world’s second-largest exporter of robusta, could fall by as much as 20%. Meanwhile, Vietnam, the largest producer of robusta, is running down its stocks.

Source: https://baodaknong.vn/gia-ca-phe-hom-nay-12-6-thi-truong-the-gioi-giam-ngay-dau-tuan-152493.html