Arabica coffee prices continue to plunge when the weather forecast in Brazil has abundant rainfall, supporting the new crop in 2022…
Robusta chart London 3/2022 session on December 28, 2021
At the end of the session, the price of Robusta coffee on ICE Europe – London reversed to decrease. Futures for delivery in March decreased by 10 USD, to 2,343 USD/ton and term for delivery in May decreased by 9 USD to 2,292 USD/ton, a slight decrease. Trading volume below average. The island price structure stabilizes the gap.
Similarly, the price of Arabica coffee on the ICE US floor – New York had a third consecutive decline. March spot futures fell another 1.45 cents to 225.60 cents/lb and May delivery also fell another 1.45 cents to 225.65 cents/lb, significant reductions. Trading volume very below average. The island price structure also stabilizes the gap.
The price of green coffee beans in the Central Highlands provinces decreased by 100-200 VND, to range from 42,100 to 42,600 VND/kg.
Price of export Robusta coffee grade 2.5% black broken, stood at 2,042 USD/ton, FOB – HCM, with a deduction of about 240 – 250 USD/ton according to the May futures price in London.
The Reais rose 0.02%, the rate rose to 1 USD = 5.6390 Reais after the general optimism of the markets that the Omicron variant will not require severe restrictions, while the CDC – US shorten the isolation period with some cases of covid-19 infection.
Arabica coffee prices continue to decline due to the quiet market activity in the run up to Christmas and New Year and the weather forecast in the main growing regions in southern Brazil will have abundant rain, in the last week. 2021 and the first week of the new year 2022, good support for the upcoming crop.
In contrast, the price of Robusta coffee plunged right from the beginning of the session after the Christmas holiday due to the negative impact from New York. However, the inverse price structure helped the London floor to reduce losses when the liquidation pressure before the first announcement day (FND) seemed to be negligible.
The weather in the Central Highlands coffee region is still murky for a long time, continuing to make it difficult for farmers to dry, while the harvest will be extended for a few more weeks compared to previous years.
English (giacaphe.com)
