Investors in the derivative coffee markets were cautious about the upcoming supply-demand forecasts, causing coffee prices to continue unpredictable fluctuations …
Robusta London Jan / 2021 chart week 50 (from December 7, 2020 – December 12, 2020)
For the whole week 50, London market had 3 decreasing sessions at the beginning of the week and 2 gaining sessions at the end of the week. Robusta coffee futures for immediate delivery in January decreased by all 2 USD, ie down 0.15%, down to 1,335 USD / ton while futures for delivery in March increased by 2 USD, ie increased by 0.15%, to 1,357. USD / ton, very slight increases / decreases. Trading volume is at medium level.
On the contrary, New York market had 1 decreasing session and 4 gaining sessions. Arabica coffee futures for spot delivery in March increased all 4.05 cents, or 3.45%, to 121.6 cents / lb and futures for delivery in May also increased by all 4.05 cents, or up 3. , 39%, to 123.4 cents / lb, strong gains. Trading volume is quite high above average.
The price of coffee beans in the Central Highlands market increased by 200-300 VND, up fluctuating in the 32,000 – 32,500 VND / kg bracket.
Coffee prices on the two floors recovered again thanks to the support of the USDX index, which fell continuously, while the negotiation on the new US funding package has not opened yet and the possibility of Brexit no deal In the near future, in the context of many countries in the EU and North America having to reestablish social gap measures because the rebound of covid-19 has slowed down the rise on derivatives exchanges.
According to observers, Vietnamese farmers have harvested about 25% of the crop so far, while every year they have harvested up to 40% of the output and have delivered the new crop to the exporter. . The delay is due to the prolonged rainy season this year because the La Nina weather phenomenon has seriously affected coffee producing countries on the Pacific Rim, especially in Central America and Vietnam. .
Meanwhile, Cecafé of Brazil reported that November exports increased by 35.91% year-on-year, reaching a historic record high of November exports every year. However, exports surged as a result of the 2020 harvest hitting the year’s record for a cyclical increase in output. “Two years one”. The strong increase in exports means that coffee inventories are not much, while Brazil faces a crop with low yields and is also drought from the beginning, prompting Cecafé forecasts that next crop output will decline by at least 20. %, this is a concern for consumer markets.
As of Monday December 7, Robusta coffee inventories certified and tracked by London floor increased by 1,310 tons, or 0.98% from the previous trading week, to registration at 134,330 tons. (equivalent to 2,238,833 bags, 60 kg bags).
English (giacaphe.com)
