Summer holidays in the Northern Hemisphere have caused coffee consumption to decline and the roasting industry to slow down, while the outbreak of the new strain of covid-19 is a current concern of the business world. Coffee around the world…
Ending the first session of the week and also the beginning of the month, Robusta coffee prices on ICE Europe – London dropped for the third consecutive session. The September delivery term decreased by 33 USD to 1,753 USD/ton and the November delivery term decreased by 35 USD to 1,766 USD/ton, the reductions are quite strong. Trading volume maintained very above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York dropped for the fifth consecutive session. September spot futures fell another 6.75 cents to 172.80 cents/lb and December futures fell another 6.70 cents to 175.75 cents/lb, very strong declines. Trading volume remained very high above average.
The price of green coffee beans in the Central Highlands provinces decreased by 100-200 VND, to range from 35,500 to 36,400 VND/kg.
Price of export Robusta coffee grade 2.5% black broken, stood at 1,706 USD/ton, FOB – HCM, with a deduction of 50-60 USD/ton according to the November futures price in London.
The Reais rose 0.84%, the exchange rate rose to 1 USD = 5.1650 Reais due to the reduction of risk aversion from abroad and excitement about the possibility of a sharp increase in the basic interest rate of the Reais.
The price of double-decker coffee futures fell sharply, when the weather forecast in Brazil was not likely to frost until before the full moon in August stimulated “speculative bear” back to the market and short-term investors continued to take profits.
According to data reported by the Indonesian Trade agency, July coffee exports reached 111,489 bags, down more than 66.41% year-on-year, bringing exports in the first 10 months of the current coffee crop year 2020. In 2021, a total of 1,753,571 bags, a decrease of 927,325 bags, or a decrease of more than 34.59% compared to the same period last coffee crop year. The reason for the decline is said to be the same with the limitations not only in Southeast Asia but also in the whole world in transporting export goods by sea today.