The National Meteorological and Hydrological Agency of Vietnam forecasts that rainfall on the Central Highlands coffee area in December will be 20-40% higher than the average for many years, causing the Robusta coffee market to raise new concerns. especially about the quality of the coffee beans after harvest.
Robusta London T1 / 2021 week chart 48 (from November 23, 2020 – November 28, 2020)
For the whole week 48, London market had 2 decreasing sessions and 3 gaining sessions. Robusta coffee futures for delivery in January increased by $ 25, or up 1.8%, to $ 1,411 / ton and for March delivery increased by $ 18, or up 1.29%, to $ 1,313. per ton, significant increases. Trading volume is above average.
In contrast, the New York market had 2 declines and 2 up sessions. Arabica coffee futures for spot delivery in March increased all 6.15 cents, or 5.21%, to 124.2 cents / lb and futures for May delivery increased by all 5.9 cents, or 4 , 92%, to 125.85 cents / lb, dramatic increases. Trading volume is very high above average.
The price of coffee beans in the Central Highlands market increased slightly from 0 to 100 VND, up fluctuating in the frame of 32,900 – 33,500 VND / kg.
Two-floor coffee prices continued to fluctuate in opposite directions this week. At London floor futures, Robusta coffee prices closed the week almost stable, while Arabica coffee prices in New York followed the rise of the previous week. In particular, the jump on the weekend was in stark contrast to the plunge at the end of last week (Review the market news on November 28, 2020).
For the reader to easily see, giacaphe.com quoted chart of coffee prices New York has shown “Two presses of the wrong button” The following:
New York chart shows two hits “Press the wrong button” within the past 7 days. (English)
The Robusta coffee market has eased concerns about storms in the South China Sea that hit the Central Coast, causing widespread flooding in October and early November, delaying harvest of new crops for several weeks. .
Meanwhile, the National Hydrometeorology Agency forecasts the Central Highlands coffee area will receive 20-40% more rain than the average for many years in December. This will be a new concern about quality. coffee beans of both producers and traders.
As of Monday 23/11, Robusta coffee inventories certified and tracked by London floor have increased by 360 tons, or 0.27% compared to the previous trading week, to registration at 133,480 tons. (equivalent to 2,224,667 bags, 60 kg bags).
English (giacaphe.com)
