Coffee futures prices continued to be mixed as more basic information supported…
Robusta chart London September 2022 session on August 1, 2022
At the end of the first session of the week, the price of Robusta coffee on the ICE Europe – London floor increased for the sixth session. The September spot term increased by 1 USD, to 2,031 USD/ton and the November delivery term was unchanged, still at 2,028 USD/ton, extremely slight increases. Trading volume remain above average. .
On the contrary, the price of Arabica coffee on the ICE US floor – New York dropped for the third consecutive session. September spot futures fell another 4.00 cents to 213.20 cents/lb and December futures fell another 3.80 cents to 210.00 cents/lb, significant declines. Trading volume very above average.
The price of green coffee beans in the Central Highlands provinces increased by 0-100 VND, up to range from 40,600 to 41,200 VND/kg.
Coffee futures prices continued to be mixed for the third consecutive session, falling in New York and maintaining upward momentum in London.
A survey of Reuters results in coffee prices at the end of the year will stand at a low level. Arabica coffee fell 20% year-on-year, to stand at 180 cents/lb. Robusta coffee fell similarly, to stand at 1,900 USD/ton. The survey also predicts that Brazil’s 2023/2024 will grow to 71 million bags, above the estimated 63 million bags in the 2022/2023 crop currently being harvested. The world’s largest Robusta producer Vietnam is expected to produce 30 million bags in the 2022/2023 crop year, slightly lower than the previous crop.
Indonesian Trade Agency reported that the island nation’s Robusta coffee exports in June increased by 86,677 bags, or 20.32% over the same period last year, to 275,195 bags. Accumulated exports of Robusta coffee in the first 9 months of the current coffee crop year 2021/2022 totaled 2,170,954 bags, down 553,806 bags, or 25.25% lower than the same period last year. It can be seen that the reported export figures are somewhat lower than the previous year, but the export volume for the past 8 months is considered appropriate when compared to the 5-year average for the same period.
General Statistics Office of Vietnam estimated coffee exports in July totaled about 2,083,333 bags, up 2.40% year-on-year. As a result, cumulative coffee exports in the first 10 months of the current crop year 2021/2022 totaled 22,160,410 bags, an increase of 6.95% over the same period last year. At the same time, the General Statistics Office of Vietnam also estimated that the value of coffee exports in the first 6 months of 2022 will be 44.80% higher than the same period last year, totaling about 2.60 billion USD.
The Reais rate fell slightly 0.07% to 1 USD = 5,1770 R$, while the market bets on Copam – Brazil will raise the Reais base rate by 0.5% in the monetary management session that will begin today.
English (giacaphe.com)
