Coffee futures prices in London surged when news of storm No. 9 entered the East Sea…
Robusta chart London 3/2022 session on December 17, 2021
At the end of the last session of the week, Robusta coffee prices on ICE Europe – London returned to gaining momentum. Futures for delivery in January increased by 8 USD, to 2,439 USD/ton and term for delivery in March increased by 34 USD, to 2,333 USD/ton, significant increases. Trading volume above average. The island price structure closes the gap.
On the contrary, the price of Arabica coffee on the ICE US floor – New York continued to decline. The March spot futures fell another 2.10 cents to 234.75 cents/lb and the May delivery futures fell another 2.15 cents to 234.85 cents/lb, very significant reductions. Trading volume very below average. The island price structure maintains the gap.
The price of green coffee beans in the Central Highlands provinces increased by 200-300 VND, fluctuated in the range of 42,500 – 42,800 VND/kg.
Price of export Robusta coffee grade 2.5% black broken, stood at 2,073 USD/ton, FOB – HCM, with a deduction of about 250 – 260 USD/ton according to the March futures price in London.
Reais fell 0.07%, the exchange rate fell to 1 USD = 5.6840 Reais due to the simultaneous expiration of options contracts on many derivative markets and many emerging currencies also corrected down during the period. at the end of the year, when USDX consolidated its strength in the face of global inflation concerns and fear of the rapidly spreading Omicron variant.
The price of Arabica coffee in New York continued to decline as more major central banks in the world raised the basic interest rate following the announcement of the Fed’s reduction in economic stimulus measures and the USDX increased sharply across the markets. Global. Notably, the Bank of England (BoE) has announced that it will raise the annual pound interest rate by 0.1 – 0.25 % per year and the European Central Bank (ECB) has confirmed that it will reduce the pace of asset purchases from the end of the year. next.
On the contrary, besides the inverse price structure still maintained to attract coffee to the floor, the price of Robusta coffee increased quite strongly when the London market received the news of storm Rai, storm No. 9 entering the East Sea in the coming weeks. weekend. This storm is expected to bring heavy rain to the Central Coast of Vietnam, preventing the peak harvest and drying of coffee in the Central Highlands, slowing the supply of the new crop, while still many old coffees because logistics problems cannot be solved quickly.
ANhan Van (giacaphe.com)
