The world coffee market has turned to supply concerns, when Brazil started to harvest the new crop this year with the forecast that the total output will decline significantly …
Robusta London T5 / 2021 chart session on April 23, 2021
Ending the last session of the week, Robusta coffee prices on ICE Europe – London increased. May spot futures increased by 8 USD, to 1,387 USD / ton, July futures also increased by 8 USD, to 1,416 USD / ton and September futures increased by 12 USD, to 1,436 USD / ton, the increase light. Trading volume very high above average.
Similarly, Arabica coffee prices on the ICE US – New York floor followed the uptrend. July futures increased 2.35 cents, to 138.5 cents / lb and September futures also rose 2.35 cents, to 140.4 cents / lb, the very significant increases. Trading volume very high above mGermany medium.
The price of coffee beans in the Central Highlands provinces increased by 100-200 VND, up fluctuating in the frame of 32,600 – 33,200 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,476 USD / ton, FOB – HCM, with the plus difference at 50-60 USD / ton in term of July in London.
The Reais fell 0.80%, the exchange rate dropped to 1 USD = 5.4990 Reais, ending the chain of increases after the domestic adjustment when the Budget Law of 2021 was signed by the President of Brazil. Meanwhile, the increasing pressure on the US financial market on the rumor of increasing income tax has made emerging currencies weaken again, leading to the general commodity price adjustment.
Robusta coffee prices in London adjusted to increase according to USDX and US Stocks when pressure on May option futures matured on this floor gradually decreased.
Meanwhile, Arabica coffee prices in New York continued to rise, as Brazil’s new Arabica coffee production was a current concern of the world coffee market as a whole, although there were numerous reports. Arabica coffee is full of stockpiles, ensuring the roasting needs of the consumer market for at least 3 months.
The report of low rainfall in Brazil also contributed to the concern that the quality of the about-to-be-harvested coffee beans was reduced and coffee farmers, especially, feared when it entered the dry winter.
English (giacaphe.com)
