The derivative coffee markets have regained their green color but the gains are still tilted towards London due to the considerable support of the fear of the spread of covid-19 epidemic …
Robusta London chart Saturday / 2021 session on May 4, 2021
At the end of the session, Robusta coffee prices on ICE Europe – London continued to rise. July spot futures increased by 18 USD, up to 1,474 USD / ton and futures for September delivery increased by 16 USD, to 1,495 USD / ton, the significant increases. Trading volume very high above average. Robusta London prices rose to stand at 8-week highs.
Meanwhile, Arabica coffee prices on the ICE US – New York floor increased. July futures rose 0.1 cent, to 140.35 cent / lb and September futures rose 0.15 cents, to 142.3 cents / lb, the slight increase. Trading volume maintained at mGermany medium.
The price of coffee beans in the Central Highlands provinces increased by 200-300 VND, up fluctuating in the framework of 33,500 – 34,000 VND / kg.
Export Robusta coffee price of grade 2, 5% broken black, stands at 1,524 USD / ton, FOB – HCM, with a plus difference at 40-50 USD / ton according to the term price in July in London.
Reais fell 0.20%, the rate dropped to 1 USD = 5,4300 Reais because investors were also uncertain about the 2021 Budget, while the USD value increased well against the emerging currencies. global and with the US Treasury Secretary’s comment on the possibility of raising interest rates to the economy “Growth is not too hot”.
Two-floor coffee prices regained the green color with New York slowing down and London rising to a 2-month high. This is not too surprising when the derivative coffee markets with many fundamentals supporting and short-term speculation on London floor return to increase buying due to the outbreak of covid-19 epidemic in many Asian countries. making Robusta coffee exports slow.
English (giacaphe.com)
