Coffee prices will stand firm amid higher consumer market demand…
New York Arabica chart May 2022, April 18, 2022
Ending the opening session late alone at the beginning of the week, the price of Arabica coffee on the ICE US floor – New York only fluctuated slightly. May spot futures fell 0.10 cents to 223.50 cents/lb and July futures were unchanged, remaining unchanged at 223.75 cents/lb, while futures for delivery tended to increase slightly. . Trading volume above average.
The price of green coffee beans in the Central Highlands provinces remains stable in the range of 40,000 – 40,600 VND/kg.
Despite plunging from the beginning of the late opening session alone, Arabica coffee prices in New York rebounded shortly after to close the session with a slight decline.
It is interesting to note that the long term futures of the New York market tended to increase. According to observers, this trend could keep coffee prices stable until Brazil releases a new crop.
However, it is also necessary to be cautious with the context of the war in Eastern Europe and monetary factors, especially the Reais exchange rate, which may put pressure back on Arabica coffee prices, while coffee traders will not. Unforeseen fundamentals such as weather in producing countries and logistical issues still dominate.
According to experts from Safras & Mercado, Brazil’s Arabica coffee sales currently only reach 89% of the production of the 2021 crop, which is approximately the same period of last year but higher than the 5-year average of this period. is 87%. While sales of Conilon Robusta coffee, although similar to the same period last year, was 92% higher than the 5-year average. This shows that coffee prices are still holding firm amid higher market demand.
English (giacaphe.com)
