Record coffee export results in the 2020/2021 crop year show that supplies from Brazil are still plentiful, while the world’s top producer is now harvesting a new coffee crop…
Robusta chart London September 2021 session on 13/07/2021
At the end of the session, the price of Robusta coffee on ICE Europe – London reversed to decrease. The September spot futures fell by $27, down to $1,717/ton and the November delivery term fell $14 to $1,712/ton, significant reductions. Trading volume above average. The island price structure closes the gap.
Similarly, the price of Arabica coffee on the ICE US floor – New York has a downward trend. September spot futures fell 1.75 cents to 152.25 cents/lb and December futures fell 1.70 cents to 155.10 cents/lb, significant declines. Trading volume below average.
The price of green coffee beans in the Central Highlands provinces decreased by 500-600 VND, to range from 35,600 to 36,100 VND/kg.
The price of exported 2.5% black Robusta coffee stood at $1,717/ton, FOB – HCM, according to September futures prices in London.
The Reais fell 0.15%, the exchange rate fell to 1 USD = 5.1810 Reais due to the impact of the foreign exchange market, when the higher-than-expected US consumer price index (CPI) boosted USDX strongly. basket of currencies and long-term Treasury yields also rose.
Coffee prices reversed to decline on both futures exchanges when it was reported that Brazil’s green coffee exports in June reached 2.73 million bags, up 0.37% over the same period last year. As a result, in the 2020/2021 crop year that just ended, Brazil exported a total of 41.63 million bags of green coffee, an increase of more than 15% compared to the previous coffee year, a record export figure.
The price of Robusta coffee dropped unexpectedly due to the previous overheating. Although there are reports of exports slowing down due to lack of empty containers and the spread of the Covid-19 epidemic, it seems that the consumer market is only short of coffee in the short term. It seems that the establishment of an inverse price structure in the near term just to offset the rising ocean freight rates is too high.
English (giacaphe.com)
