The London futures market rebounded slightly after falling at the start of the session on rumors that leading Robusta farmers are reluctant to sell coffee at current prices…
Robusta chart London 3/2022 session on January 20, 2022
At the end of the session, the price of Robusta coffee on the ICE Europe – London exchange increased. The March spot term increased by $2, to $2,227/ton and the May delivery term increased by $1, to $2,2192/ton, slight increases. Trading volume on average.
On the contrary, the price of Arabica coffee on the ICE US floor – New York reversed to decrease. March spot futures fell 0.80 cents to 243.65 cents/lb and May futures fell 0.65 cents to 243.80 cents/lb, slight gains. Trading volume above average.
The price of green coffee beans in the Central Highlands provinces remained unchanged, still fluctuating in the range of 39,700 – 40,200 VND/kg.
The world commodity market suffered a strong impact when China announced a cut in the renminbi basic interest rate. This has made the prices of all kinds of goods in general become expensive and the market has reduced purchasing power because China is the world’s No. 1 consumer.
Despite the same downtrend from the beginning of the session, the price of Robusta coffee in London had a slight recovery at the end of the session to attract a new supply of Vietnam’s crop when there were rumors that farmers did not want to sell coffee at low prices. current.
It seems that the Omicron variant is not as dangerous as many countries have reacted to, shops are open “normally”, consumption will soon return, also supporting Robusta coffee prices.
BBT (giacaphe.com)
