Coffee price Robusta in London is still under pressure to reduce…
Robusta chart London 3/2022 session on January 17, 2022
Ending the first session of the week, the price of Robusta coffee on the ICE Europe – London floor dropped for the third consecutive session. The March spot term decreased by 10 USD to 2,218 USD/ton and the May delivery term decreased by 11 USD to 2,183 USD/ton, significant reductions. Trading volume very below average.
Meanwhile, ICE US exchange – New York Closed all day, public holiday Martin Luther King, not trading.
The price of green coffee beans in the Central Highlands provinces decreased by 100-200 VND, to range from 39,600 to 39,900 VND/kg.
Robusta coffee prices continue to decline due to the pressure of selling new crops from the main producing countries. Accompanied by profit taking and liquidation of short positions at a high level.
The Coffee Exporters Council (Cecafé) in Brazil said that coffee exports for the whole of 2021 totaled 40,372 million bags of coffee of all kinds, ranking the third largest export record in the producer’s history. Top coffee in the world.
It is expected that the bottlenecks in international freight will be removed soon and therefore, the fear of shortage of coffee for the global consumer market will gradually decrease in the short and medium term.
. BBT (giacaphe.com)
