Robusta coffee futures prices on the London exchange set a new high due to currently very high global demand…
At the end of the first trading session of the week, Robusta coffee prices on ICE Europe – London returned to an upward trend. Futures for delivery in May increased by 59 USD, to 3,417 USD/ton and futures for delivery in July increased by 62 USD, to 3,326 USD/ton, strong increases. Trading volume is very low below average.
Similarly, the price of Arabica coffee on the ICE US – New York floor has the same increasing trend. Futures for delivery in May increased by 0.80 cents, to 185.65 cents/lb and futures for delivery in July increased by 0.90 cents, to 184.90 cents/lb, slight increases. Trading volume remains well above average.
The price of green coffee in the Central Highlands provinces increased by 1,100 – 1,200 VND, fluctuating in the range of 96,500 – 97,000 VND/kg.
The slight decrease in DXY supported most commodity prices when large funds and speculation returned to increase buying. Arabica coffee prices dropped right from the beginning of the session when Somar Met. reports major coffee growing areas in southern Brazil have received significant rainfall over the past week. However, drought news in Vietnam, the world’s largest Robusta producer, causes output in the 2024/2025 crop year to decrease by 10% compared to the current crop, according to the Vietnam Coffee and Cocoa Association ( Vicofa) forecasts only about 1.6 – 1.7 million tons, lower than 1.78 million tons of the previous 2022/2023 crop year, while the currently very high global demand for Robusta has boosted coffee prices. Robusta futures on the London exchange set a new record, drawing Arabica back to the uptrend.
What should be noted is that the trading volume on the New York stock exchange appears to be stable, while the trading volume on the London stock exchange is very low, proving that most investors are still cautious with the short-term trend when Brazil has entered the market. harvest of this year’s new Conilon Robusta crop and the genuine market price in Brazil decreased slightly, although the Reais increased by 0.51%, bringing the exchange rate to 1 USD = 4.9729 R$, which supported Brazilians. reduced sales.
The world coffee market will be less active this week due to the Good Friday holiday of Catholic countries and the market fundamentals have not changed significantly other than the ongoing ICE inventory. continues to be added.
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English (giacaphe.com)
