Due to supply delays due to international maritime transport issues, prices have pushed up the market…
For the whole week of June 2024, the London market had 1 decreasing session at the beginning of the week and 4 consecutive increasing sessions at the end of the week. Robusta coffee futures for delivery in March increased by a total of 112 USD, or an increase of 3.47%, to 3,349 USD/ton, while futures for delivery in May increased by a total of 101 USD, or an increase of 3.24%, to 3,217 USD/ton, good increases. Trading volume remains quite high above average.
Meanwhile, the New York market had 3 decreasing sessions interspersed with 2 increasing sessions in the middle of the week. Arabica coffee futures for March delivery increased a total of 4.35 cents, or an increase of 2.27%, to 196.30 cents/lb and futures for May delivery increased a total of 2.50 cents, or an increase of 1.32 cents. %, to 191.50 cents/lb, significant increases. Trading volume is very high above average.
The price of green coffee in the Central Highlands market increased by 1,100 – 1,200 VND, fluctuating in the range of 78,800 – 80,100 VND/kg.
During the week, DXY decreased by 0.14%, leading to hopes that USD interest rates will soon begin to cut, in the context of US stocks continuing to grow positively, the S&P 500 index reached an important milestone when surpassing 5,000 points thanks to strong profits and positive economic indicators.
The International Coffee Organization (ICO) reported that global exports in December 2023 reached 12.17 million bags of coffee of all types compared to 10.71 million bags exported in December 2022. Bringing global exports in the first three months of the current coffee year 2023/2024 to a total of 32.42 million bags, an increase of 6.8% compared to the previous coffee year.
The General Statistics Office of Vietnam reported that coffee exports in January were estimated at 210,000 tons, up 47.3% over the same period last year, bringing exports in the first 4 months of the current coffee year 2023/2024 to an estimated 580,600 tons. tons, an increase of 4.8% over the same period of the previous crop year.
The Brazilian Coffee Exporters Association (Cecafé) said that coffee exports in January reached a historic record with 3.96 million bags of coffee of all kinds, an increase of 39% over the same period last year, of which Conilon Robusta coffee exports reached 457,787 bags, an increase of 503.5%, Arabica natural coffee exports reached 3,208 bags, an increase of 31.1%. Cecafé also recorded instant coffee exports reaching 393,467 bags, accounting for 7.41% of the total and roasted and ground coffee exports reaching 1,898 bags, accounting for 0.05% of the total.
Robusta coffee inventories issued by the London Exchange Certified and monitored, as of Friday, February 9, have decreased by 2,640 tons, or 9.50% compared to a week earlier, down to register at 25,140 tons ( about 419,000 bags, 60 kg bags), a new record low, will continue to support Robusta coffee prices in the short term, in the context that the blockages of two international maritime routes through the Panama and Suez canals have not yet been resolved. improving and ICE – US inventories still hover around a 24-year low.
Anh Van (giacaphe.com)
