The weather forecast in southern Brazil is about to rain and concerns that Asia-Europe freight transport will be routed farther, taking more time and cost, have supported world coffee futures prices…
For the whole week of April 2024, the London market had 4 increasing sessions and 1 decreasing session after the first day of the week. The price of Robusta coffee for March delivery increased by a total of 141 USD, or an increase of 4.51%, to 3,269 USD/ton and for May delivery, a total increase of 145 USD, or an increase of 4.89%, to 3,112 USD/ton. tons, sharp increases. Trading volume is quite above average.
Meanwhile, the New York market had 2 increasing sessions and 3 decreasing sessions in the middle of the week. Arabica coffee futures for March delivery increased by a total of 8.70 cents, or 4.70%, to 193.85 cents/lb and for May delivery, by a total of 7.60 cents, or by 4.18 cents. %, to 189.45 cents/lb, quite strong increases. Trading volume is very high above average.
The price of green coffee in the Central Highlands market increased by 3,900 – 4,100 VND, fluctuating in the range of 75,900 – 76,500 VND/kg.
During the week, DXY decreased 0.33% due to the report that US economic indicators grew above expectations, causing the market to speculate that the US Federal Reserve (Fed) will change its financial strategy in the first half of this year. .
Coffee futures prices increased strongly on both exchanges due to forecasts of rain in southern Brazil, helping to reduce stress on coffee trees after the recent dry period. In addition, the world’s two vital maritime routes are having problems, causing inventory levels in the world’s major consumer markets to drop very low, contributing to supporting coffee prices.
Robusta coffee inventories issued by the London Exchange Certified and monitored, as of Friday, January 26, increased by 70 tons, a slight increase of 0.23% compared to a week earlier, to register at 30,080 tons. (about 501,333 bags, 60 kg bags), 15-year low, mainly Conilon coffee from Brazil.
Anh Van (giacaphe.com)
