The spread of the new strain of covid-19 caused many countries to re-establish social distancing measures, causing the market to worry about declining coffee consumption…
Robusta chart London September 2021 session on August 13, 2021
At the end of the last trading session of the week, the price of Robusta coffee on the ICE Europe – London floor continued to decline. The September spot term decreased by 21 USD to 1,828 USD/ton and the November delivery term decreased by 18 USD to 1,836 USD/ton, significant reductions. Trading volume on average.
Similarly, the price of Arabica coffee on the ICE US floor – New York ended the rising chain. September spot futures fell 3.80 cents to 182.75 cents/lb and December delivery fell 3.85 cents to 185.75 cents/lb, significant declines. Trading volume remained very high above average.
The price of green coffee beans in the Central Highlands provinces decreased by 300-400 dong, to range from 36,800 to 37,600 dong/kg.
The price of exported Robusta coffee grade 2.5% black broken, stood at 1,756 USD/ton, FOB – HCM, with a deduction of 70 – 80 USD/ton according to the November futures price in London.
The reais increased slightly by 0.19%, the exchange rate rose to 1 USD = 5,2460 Reais due to concerns about political instability and financial risks of foreign investors when the Brazilian National Assembly vote on reform. Taxes continue to be deferred. While haven assets continued to take the throne due to concerns that the world economy would slow down as the new strain of covid-19 increased everywhere.
The price of Arabica coffee dropped again when the New York Stock Exchange expired the September option contract as speculated and investors needed to adjust and balance their positions due to “overbought” before. While the price of Robusta coffee represents a concern not only because the supply from producing countries is slowing down, but also because many large markets have to re-establish social distancing measures more strongly, making consumption more certain. decreased.
The production of Conilon Robusta in this year’s crop of Brazil is estimated at nearly 21.2 million bags. Brazilian farmers sold about 55% of their production, much higher than the same period last year and also above the recent five-year average, according to Safras & Mercado.
English (giacaphe.com)
