The price of coffee futures continued to fall deeply because funds and speculations balanced their business positions at the end of the year…
At the end of the last trading session of the week, the end of the month and the last session of 2022, the price of Robusta coffee on the ICE Europe – London floor continued the downward trend. The March delivery term decreased by another 25 USD, to 1,799 USD/ton and the May delivery term decreased by 28 USD to 1,774 USD/ton, the reductions are very significant. Trading volume remain average.
Similarly, the price of Arabica coffee on the ICE US floor – New York has a downward trend. The March spot futures fell another 2.75 cents to 167.30 cents/lb and the May delivery futures fell another 2.80 cents to 166.95 cents/lb, the reductions were also significant. Trading volume on average.
The price of green coffee beans in the Central Highlands provinces decreased by 500-600 VND, to range from 39,600 to 40,100 VND/kg.
The price of coffee futures continued to fall deeply due to the impact of the newly released supply and demand data combined with the harvest of the new crop of coffee crop year 2022/2023 of many major producers.
Indonesia’s Trade Agency reported that coffee exports, mainly Robusta, in November increased by 158.50% year-on-year to 479,187 bags, contributing to the cumulative exports of Robusta coffee from Indonesia in the first 8 months of the current coffee crop year (April 2022 to March 2023) totaled 3,374,284 bags, an increase of 1,196,246 bags, or 54.93% increase over the same period of the coffee year. before.
At the same time that the Robusta coffee harvest in Vietnam is in the final stage is the harvest of high-quality wet-processed Arabica coffee production in Mexico – Central America, a key supplier of ICE – New York, with the bloc’s total production expected this year at around 31.9 million bags, down slightly from the previous crop.
Economic uncertainty and the prospect of a Fed tightening monetary policy only increased fears of an impending recession, prompting investors to flee riskier assets ahead of the new year. Only when investors no longer shift capital into safe-haven assets like USDX and long-term Treasuries can commodity markets in general get better.
English (giacaphe.com)
