The shutdown of maritime transport routes through the Red Sea region continues to cause concerns about Robusta supply shortages from Asian countries…
At the end of the first trading session of the week, Robusta coffee prices on the ICE Europe – London floor continued the upward trend. The March delivery term increased by 48 USD, to 2,987 USD/ton and the May delivery term also increased by 48 USD, to 2,862 USD/ton, quite good increases. Trading volume is very low below average.
Meanwhile, ICE US – New York floor did not trade, due to the holiday celebrating the birthday of Pastor Martin Luther King, closed all day.
The price of green coffee in the Central Highlands provinces increased by 800 – 900 VND, fluctuating in the range of 70,800 – 71,500 VND/kg.
Robusta coffee futures prices continue to increase due to concerns about supply shortages from major producing countries in Asia, when the Asia-Europe vital maritime route through the Suez Canal is attacked by Houthi terrorists. guns in the Red Sea area.
Data reported by the ICE Report Center shows that yesterday, Monday, January 15, Robusta inventory decreased by 1,170 tons, or 8.92% compared to last week, down to 31,940 tons (about 532,333 tons). bags, 60 kg bags) new record low since early September 2023.
The General Department of Vietnam Customs reported preliminary data showing that coffee exports in December reached 207,613 tons (equivalent to 3,460,217 bags), up 74.03% over the previous month and up 5.40% over the previous month. same period last year, bringing coffee exports in the first 3 months of the current crop year 2023/2024 to a total of 370,635 tons, down 9.87% compared to the same period of the previous crop year. This has contributed to concerns about the shortage of Robusta coffee supply from Asia.
In Brazil, attention continues to focus on climate conditions. The rains are more favorable now but there is still some uncertainty regarding the 2024 harvest. High temperatures in recent years are expected to have a negative impact on production.
Without a reference from New York, Brazilian markets had a steady day in the country’s main trading regions.
English (giacaphe.com)
