The high prices of ships while leading manufacturers are focusing on the Lunar New Year holiday, limiting short-term Robusta supply is a concern of the consumer market …
Robusta London Tuesday / 2021 chart session on February 4, 2021
Ending the session, Robusta coffee prices on ICE Europe – London continued to recover. Futures for delivery in March increased by 20 USD, to 1,343 USD / ton and futures for May delivery increased by 16 USD, to 1,359 USD / ton, the very significant increases. Trading volume maintained quite high above average.
Similarly, Arabica coffee prices on the ICE US – New York floor increased. Futures for delivery in March increased 0.1 cent, to 124.05 cents / lb and futures for May delivery rose 0.05 cents, to 126.15 cents / lb, the increases were very slight. Trading volume very cpond above average.
The price of coffee beans in the Central Highlands provinces increased by 200-300 VND, up fluctuating in the framework of 31,500 – 32,100 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,423 USD / ton, FOB – HCM, with the difference plus 70-80 USD / ton in term of May in London.
Reais copper plummeted 1.49%, down to 1 USD = 5.4490 Reais due to the sharp increase in USD value in international money markets with expectation of USD 1.9 trillion financing package being approved and optimism. the US economy soon recovered quickly from the pandemic recession.
Robusta coffee prices continued to recover while Arabica adjusted slightly after a rather optimistic statement by Mr. Silas Brasileiro, chairman of the National Coffee Council (CNN) of Brazil. The world’s largest producer “Still has enough coffee to supply global demand”, especially “Production in 2022 will return to normal”, according to the Dow Jones.
However, this year’s Arabica crop in Brazil will be year lost of the cycle “Two years one” , the shortage is only temporary, will be offset from the inventory of these year okay. While the Conilon Robusta crop remains stable and tends to increase annually due to new crossbreeding and increasing mechanization.
In addition to the adjustment and balance of speculative position, the recovery of Robusta London is believed to be from the concern that Vietnam’s supply is temporarily limited due to the rising sea freight rates and especially the Covid epidemic. -19 flare-ups (re-read the news on February 4, 2021).
English (giacaphe.com)
