ICE – New York inventories have not shown any signs of improvement, which has supported the price of Arabica coffee to increase strongly again…
Robusta chart London September 2022 session on July 26, 2022
At the end of the session, the price of Robusta coffee on the ICE Europe – London floor consolidated. The September spot futures increased by 1 USD to 1,974 USD/ton and the November delivery term increased by 2 USD to 1,974 USD/ton, slight increases. Trading volume remained very low below average.
On the contrary, the price of Arabica coffee on the ICE US floor – New York continued to increase. September spot futures added 3.15 cents to 213.20 cents/lb and December futures added 3.30 cents to 209.45 cents/lb, strong gains. Trading volume remain above average.
The price of green coffee beans in the Central Highlands provinces remained unchanged, still fluctuating in the range of 39,300 – 39,800 VND/kg.
Arabica coffee prices on the New York Stock Exchange continued to increase strongly thanks to the support of ICE inventories, which fell to a 23-year low without any significant addition, while the supply from the Arabica production block Traditional high-quality wet processing in the Mexico-Central America region, which usually accounts for more than 70% of the floor’s inventory, seems to have been exhausted.
On the contrary, the price of Robusta coffee on the London floor slowed down due to worries that the economic recession in the Eurozone is likely to increase because of excessive inflation. While the war in Eastern Europe and the energy crisis have not shown any signs of amelioration, the internal instability still persists, causing the leaders of many major economies in the bloc to resign. The euro’s fall to par with the US dollar for the first time also made investors slack.
The market is waiting for the outcome of the policy meeting this evening and is not sure what will happen other than speculation that the Fed cannot yet. “Eagle”. Reais added 0.39% to 1 USD = 5,3510 R$, thanks to increased buying of commodities by Funds and speculation.
The Uganda Coffee Development Authority (UCDA) reports that in the last coffee year 2021/2022 (Uganda crop year is from July of the previous year to June of the following year), exports totaled 6.26 million bags of coffee, accounting for 80% of Robusta coffee, an increase of 3% compared to the previous crop year.
Vietnamese coffee farmers are more relieved when the price of input materials is now less hot, but also makes this year’s coffee output will decrease by 3% compared to the previous year, according to Vicofa.
English (giacaphe.com)
