While the price of Robusta coffee slightly adjusted, the price of Arabica coffee skyrocketed due to the dry news in coffee regions in Central South Brazil…
Robusta chart London 11/2022 session on 09/09/2022
At the end of the last session of the week, Robusta coffee prices on ICE Europe – London adjusted to a mixed trend. The November spot term fell by $12 to $2,264 per ton and the January 2023 delivery term fell by $2, to $2,253 per ton, while the futures for delivery increased, with slight increases/decreases. Trading volume below average.
On the contrary, the price of Arabica coffee on the ICE US floor – New York reversed to increase. December spot futures rose 6.30 cents to 228.50 cents/lb and March delivery futures rose 5.95 cents to 222.65 cents/lb, strong gains. Trading volume on average.
The price of green coffee beans in the Central Highlands provinces decreased by 100-200 VND, down to range from 48,300 to 48,800 VND/kg.
USDX eases slightly to euro parity for the first time after the European Central Bank (ECB) delivered an excess base rate hike of 0.75% yesterday and signaled more tightening to come. again. Many emerging market currencies have also rebounded. U.S. stocks and long-term Treasury yields are back to their highest levels since 2014. While risk aversion is heightened by a rise in interest rates in major economies and a slowdown in China still in short range. Most notably, the Brazilian Reais rose 1.15% to $1 = R$5,1470 which prevented Brazilians from reducing export coffee sales in anticipation of the agency’s third crop survey. Conab with many doubts that this year’s crop output is not as expected, even if it is a cyclical crop “two years one”.
Vietnam Customs reported that coffee exports in August reached 112,531 tons (equivalent to 1,875,517 bags, 60 kg bags), down 1.16% from the previous month and down 4.0% over the same period last year. However, the cumulative export of the first 8 months of the calendar year 2022 has increased by 15.31% compared to the export results of the first 8 months of 2021. This is information that has caused the price of Robusta coffee futures in London to weaken again for the next 8 months. although the inventory report at the floor continued to decline.
ANhan Van (giacaphe.com)
