Coffee prices increased sharply due to concerns about drought in Brazil and Robusta supply at a record low…
At the end of the trading session, Robusta coffee prices on ICE Europe – London exchange returned to an upward trend. The March delivery term increased by 104 USD, to 3,349 USD/ton and the May delivery term increased by 108 USD, to 3,217 USD/ton, very strong increases. Trading volume is quite above average.
Similarly, the price of Arabica coffee on the ICE US – New York floor has the same increasing trend. March delivery futures increased 7.50 cents, to 196.30 cents/lb and May delivery futures increased 5.65 cents, to 191.50 cents/lb, very strong increases. Trading volume remains at a level “huge”, rare.
The price of green coffee in the Central Highlands provinces (expected) will increase by 1,000 – 1,200 VND, fluctuating in the range of 78,800 – 80,100 VND/kg.
Coffee prices on two world futures exchanges just had a jubilant increase at the beginning of the lunar year to celebrate the traditional “Dragon” Tet, flying high and flying as far as the market expected.
Supporting the upward price trend on both coffee futures exchanges is the report that inventories monitored by ICE continue to fall to very low levels. Notably, ICE – Europe inventory yesterday, Friday, February 9, decreased by another 60 tons, or 0.24% compared to the previous day, registering at 25,140 tons (about 419,000 bags, 60 kg bags). ) new record low. Meanwhile, ICE – US inventories are still hovering around a 24-year low.
English (giacaphe.com)
