Coffee price movements in the last week of January and the export situation in early 2020

Coffee price movements in the last week of January and the export situation in early 2020
Coffee price movements in the last week of January and the export situation in early 2020
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In the world market, the price of two-time coffee floor tends to narrow the gap, which is currently too high. The global commodity market has been hit hard and continues to weaken due to fears of a widespread pandemic of corona virus and the World Health Organization (WHO) has declared a global emergency.

For the whole week 5, the London market had 3 gaining and 2 losing sessions. Price of robusta coffee for immediate delivery in March increased by US $ 15, that is, increased by 1.14% to US $ 1,334 / ton and for May delivery increased by US $ 6, which increased by 0.45%, to US $ 1,342 / tons, slight increases. Trading volume above average. Robusta prices were temporarily stable and a little positive when the United Kingdom officially left the European Union (EU).

In contrast, the New York market had 1 up and 4 down sessions. The price of arabica coffee for immediate delivery in March decreased by 7.5 cents, or 6.81%, to 112.65 cents / lb and for May delivery fell by 7.45 cents, that for 6, 63%, to 104.95 cents / lb, the decline is very strong. Partly because of the expectation that Brazil's upcoming harvest will reach a record, due to the coffee crop in the “good” year of the “two-year-one” cycle and the weather is now very favorable.

According to the Import-Export Department after the Lunar New Year holidays, coffee transactions in the domestic market are quite bleak. With the current low price, people do not want to sell but wait for the price to improve. Besides, due to corona virus, many coffee shops in China closed affecting their demand for this product.

General Statistics Office of Vietnam estimated coffee export in January reached 140 thousand tons, equivalent to 2.33 million bags (60 kg), down 30.6% in volume and 30.3% in value compared to the with the same period last year, due to export activities have few days because of the traditional Tet holiday.

The Import and Export Department also stated that the coffee export in January was estimated at 140 thousand tons, worth US $ 245 million, down 25.6% in volume and down 25.2% in value compared to December 2019.

The average export price of coffee in January reached US $ 1,751 / ton, up 0.6% compared to December 2019 and 0.4% higher than January 2019.

Germany is Vietnam's largest export market of robusta coffee in 2019, reaching 239.7 thousand tons, worth 356.49 million USD, up 0.4% in volume, but down 11.5% in value compared to with 2018.



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