The market has the phenomenon of trading according to price difference when Arabica is currently too low, very attractive to buy in…
London Robusta chart January 1/2023 session on October 31, 2022
At the end of the first session of the week, the price of Robusta coffee on ICE Europe – London reversed to increase. Futures for delivery in January increased by 4 USD to 1,853 USD/ton and term for delivery in March increased by 3 USD to 1,840 USD/ton, slight increases. Trading volume above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York also reversed to increase. December spot futures rose 7.90 cents to 177.70 cents/lb and March futures rose 6.30 cents to 174.05 cents/lb, very strong gains. Trading volume remained very high above average .
The price of green coffee beans in the Central Highlands provinces increased by 100 dong, to range from 40,700 to 41,300 dong/kg.
The reversal of coffee prices after a long decline is not unexpected, especially when funds and speculators have turned to a strong net selling position in the past 3 weeks when many major producing countries have started to step up. to harvest the new coffee crop of the 2022/2023 crop year, promising to increase the supply for the consumer market.
However, the upward momentum in the London Robusta market seems to have stalled due to significant selling pressure from provenance sources. Some observers think the market is showing “game” price difference when the price of Arabica coffee is currently too low, so it is more attractive.
Follow September Trade Report of the International Coffee Organization (ICO)global coffee exports in the month only reached 9.95 million bags, down 3.02% from the previous month, bringing global coffee exports in the past 12 months down 0.4% over the same period last year. , down to only 129 million bags, of which Arabica exports reached 80.63 million bags, down 2.33% and Robusta exports reached 48.35 million bags, up 2.94%.
The weather forecast from Brazil says a cold front will hit southern Brazil but with no chance of frost as winter is over, which could bring more rain in favor of coffee growing regions. is currently dry.
General Statistics Office of Vietnam It is estimated that coffee exports in October will reach about 80,000 tons, down 19.50% over the same period last year, bringing coffee exports in the first 10 months of 2022 to a total of 1.4 million tons (about 23.33 tons). million bags), an increase of 10.60% compared to the first 10 months of 2021.
The news that Mr. Luiz Inácio Lula da Silva was elected president of Brazil for the third time also contributed to encouraging the agricultural and small-scale production with the policy of limiting deforestation with “any price” to expand the production and livestock of the predecessor.
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