Coffee price On the two futures exchanges, there are still concerns about risks ahead…
Robusta coffee prices on the ICE Europe – London exchange decreased. The March spot term fell $45 to $2,237/ton and the May delivery term fell $31 to $2,202/ton, sharp declines. Trading volume above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York trended down. Futures for delivery in March fell 3.85 cents to 237 cents/lb and futures for May delivery fell 3.70 cents to 236.95 cents/lb, significant declines. Trading volume remained very above average.
The price of green coffee beans in the Central Highlands provinces decreased from 800 to 900 VND, to range from 390,700 to 40,100 VND/kg.
Coffee futures prices reversed to decrease due to the still heavy risk aversion ahead.
After the report that US inflation has surpassed a record level, investors’ concerns about the new monetary policy of the Fed will be raised in the upcoming policy meeting, with speculation that the Fed will gradually reduce economic stimulus to move forward. to raise the basic USD interest rate at least 3 times this year.
The market received the December export report of Vietnam Customs with surprising data. According to the report, coffee exports in December reached 169,349 tons (equivalent to 2.82 million bags), up 57.6% from the previous month. This figure proves that export traders have stepped up their deliveries after months of congestion due to the epidemic. However, cumulative coffee exports in the first 11 months of 2021 totaled 1.56 million tons, still 0.2% lower than the same period last year.
BBT (giacaphe.com)