According to agronomists, winter in Brazil is also the harvest season, farmers need a lot of sun to dry coffee beans, so it is normal for the weather to be somewhat dry.
Robusta chart London July 2021 session on 04/06/2021
At the end of the last session of the week, Robusta coffee prices on ICE Europe – London reversed to recover. Futures for spot delivery in July increased by 23 USD, to 1,612 USD/ton and for September delivery increased by 22 USD, to 1,638 USD/ton, significant increases. Trading volume very above average. London Robusta coffee prices set a new 2.5-year high.
Similarly, the price of Arabica coffee on the ICE US floor – New York along with the recovery trend. July spot futures rose 4.05 cents to 161.65 cents/lb and September futures rose 4 cents to 163.65 cents/lb, strong gains. Trading volume remained very high above average.
The price of green coffee beans in the Central Highlands provinces increased by 300-400 VND, up to range from 34,000 to 35,000 VND/kg.
The price of exported 2.5% black Robusta coffee stood at $1,638 per ton, FOB – HCM, according to September futures prices in London.
The reais gained 0.94% to $1 = 5,0360 reais after the national economic growth in the first quarter was higher than expected, while the USDX weakened again on the jobs report. The US was lower than expected while inflation increased excessively.
Coffee price reversed to recover on both futures exchanges after investors had strongly liquidated and took short-term profits in the previous session, while the basic factors were still almost nothing new.
The International Coffee Organization’s (ICO) April Trade Report has revised down the global surplus for coffee year 2020/2021 to 2.019 million bags from a previous surplus estimate of 3.286 million bags. The school also had some interest.
According to observers, the world coffee market has expressed concern when weather reports in Brazil will have a dry winter, making it difficult for coffee trees to recover after harvest, adversely affecting production. next year’s crop. However, agronomists said that winter is also the harvest season, farmers need a lot of sun to dry coffee beans, so it is normal for the weather to be somewhat dry.
. English (giacaphe.com)
