Fears of supply shortages have contributed to driving the market price up…
At the end of the trading session, Robusta coffee prices on the ICE Europe – London exchange reversed to increase. January delivery futures increased by 48 USD, to 2,406 USD/ton and March delivery futures increased by 39 USD, to 2,360 USD/ton, strong increases. Trading volume is average.
Similarly, the price of Arabica coffee on the ICE US – New York floor has the same increasing trend. December delivery futures increased by 3.60 cents, to 174.35 cents/lb and March 2024 delivery futures increased by 2.60 cents, to 172.10 cents/lb, quite strong increases. Trading volume remains well above average.
The price of green coffee in the Central Highlands provinces increased by 700 – 800 VND, fluctuating in the range of 58,300 – 58,700 VND/kg.
DXY increased by 0.68% after tough statements from Federal Fed officials, although the Fed Chairman did not say anything yesterday. US stocks have a mixed trend, despite slowing inflation, with the majority of industrial raw materials exchanges giving way to tropical agricultural markets.
Coffee prices on both exchanges increased due to support from ICE’s inventory report data, which continued to decline. Report from Santos port shows that export volume in September only reached 76% compared to the same period last year. The market is concerned that this delay may last until the end of this year, forcing roasters to increase purchases of available goods on both exchanges. Meanwhile, spot coffee prices increased slightly at Brazilian domestic trading centers.
The General Department of Vietnam Customs reported preliminary data showing that coffee exports in October only reached 43,725 tons (about 728,750 bags, 60 kg bags), down 14.21% compared to the previous month and down to 48.80 tons. % compared to the same period last year. This shows that Vietnam’s crop production volume seems to be insignificant.
English (giacaphe.com)
