According to the Vietnam Statistics Industry, coffee exports in November 2020 decreased 37.5% over the same period last year.
Robusta London T1 / 2021 chart session on 11/30/2020
KAt the end of the first session of the week, Robusta coffee prices on ICE Europe – London reversed and decreased. January spot futures dropped 10 USD, down to 1,401 USD / ton and March delivery term dropped 82 USD, to 1,405 USD / ton, the slight decrease. Trading volume is quite low below average.
Similarly, Arabica coffee prices on the ICE US – New York floor followed a downtrend. Futures for March delivery fell 0.9 cents, down 123.3 cents / lb and May futures dropped 0.75 cents, to 125.1 cents / lb, the significant reductions. Trading volume is quite high above average.
The price of coffee beans in the Central Highlands provinces decreased by 200 VND, down fluctuating in the frame of 32,700 – 33,200 VND / kg.
Export Robusta coffee price grade 2, 5% broken black, stood at 1,475 USD / ton, FOB – HCM, with a difference plus 50-70 USD / ton in term of March in London.
Reais copper fell 0.39%, to stand at $ 1 = 5.3480 Reais in the context of Brazil having to increase its social gap measures, even though foreign capital investors returned to the market.
On the contrary, US stocks rebounded after signs of an epidemic of covid-19 increasing around the world and geopolitical tensions everywhere contributed to the increased demand for USD. The US Treasury Department announced a round of sanctions against companies in the Asian country. The strength of USD makes purchasing power slack because goods exchanged in USD become more expensive.
According to observers, coffee prices on the two futures floors fell again after rising hot due to unfavorable weather information in Brazil, Vietnam and Central America. At the same time, the market had a more specific look when the coffee crop year 2019/2020 ended, the reported figures became clear.
According to the General Statistics Office of Vietnam, coffee exports in November are estimated at about 70,000 tons, down 37.5% over the same period last year, bringing coffee exports in the first 11 months of 2020 down nearly 4%. compared to the first 11 months of 2019.
The coffee area in the Central Highlands continues to rain, with great rainfall. There has been local flooding, which continues to hinder harvests that are just starting at the peak.
English (giacaphe.com)
