Coffee price Arabica corrected slightly when the new signals were not really optimistic …
Arabica coffee price term T5 / 2021 at New York floor for the past 5 consecutive sessions.
Ending the late opening session of the week, Arabica coffee prices on the ICE US – New York floor adjusted to increase. May spot futures increased 0.5 cents, to 122.1 cents / lb and July futures also rose 0.5 cents, to 124.05 cents / lb, the slight increase. Trading volume very high above mGermany medium.
While, floor ICE Europe – London holiday Monday After Easter, closed all day without transactions.
The price of green coffee in the Central Highlands provinces is still fluctuating in the frame of 31,500 – 31,900 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,410 USD / ton, FOB – HCM, with a plus difference at 50-60 USD / ton in term of July in London.
Reais copper rose 0.56%, exchange rate increased at 1 USD = 5,6790 Reais with the actively adjusting the budget to avoid violating the ceiling of the Brazilian government. While outside markets also softened as the number of vaccinated people increased and US stocks rebounded after the March employment report was released.
Arabica coffee prices in New York increased due to the dry weather report in Minas Gerais, the main Arabica coffee producing state in Brazil. According to a report by the weather news agency Somar, although extensive rain had been seen last week to help maintain soil moisture, the rainfall was only 32% of the average over the past 5 years and less rain is forecasted in the week. next. This has raised concerns about the quality of the coffee beans of the upcoming harvest season.
According to the Blomberg Reportedly, the world will face an unprecedented shortage of coffee due to strong demand recovery after vaccination is accelerated globally. The Volcafe Company of ED&F Man Holdings Ltd. said the supply in coffee year 2021/2022 will be short of about 11.6 million bags due to the decrease in Brazilian output. Producer and world digital exports will begin to decline in coffee deliveries from this month as the weak Reais copper has stimulated exports over the past several months, leaving short crop inventories.
However, derivatives markets have also been cautious about these forecasts.
English (giacaphe.com)
