Fear of the Russia-Ukraine conflict caused the price of gold and oil to skyrocket, so coffee prices had to “sacrifice”…
Robusta chart London 3/2022 session on 14/02/2022
At the end of the first session of the week, the price of Robusta coffee on ICE Europe – London reversed to decrease. The March spot term fell by $21 to $2,263 per ton and the May delivery term fell by $27 to $2,243 per ton, very sharp declines. Trading volume maintain on average.
Similarly, the price of Arabica coffee on the ICE US floor – New York had a third consecutive decline. The March spot futures fell another 4.10 cents to 247.55 cents/lb and the May delivery futures fell another 4.15 cents to 247.90 cents/lb, the declines were also very strong. Trading volume remained very above average.
The price of green coffee beans in the Central Highlands provinces decreased by 400-500 VND, to range from 40,500 to 41,200 VND/kg.
The price of Arabica coffee reversed to decrease when the New York Stock Exchange expired the March futures option contract. With only 3 consecutive sessions, the price of spot coffee has decreased by 10.80 cents/lb, or 4.18%. , a very strong decrease.
However, according to observers, the downtrend shows no sign of stopping as there is still pressure ahead of the US Federal Reserve (Fed) in the upcoming policy meeting that will raise the basic interest rate in USD. and tighten economic stimulus measures because US inflation has risen too high “never seen”.
The price of Robusta coffee, although it remained stable from the beginning of the session, could not avoid the downward pull from the New York floor when it entered the US session. (see chart). Speculators in most derivatives markets have “run away” due to fears of a Russian-Ukrainian conflict after February 14, as the US president warned, despite many speculations in the market that there will be no problems before the Winter Olympics in China ends. end.
US stocks fell, gold prices, and crude oil prices increased sharply, so coffee prices had to go “sacrifice” is inevitable.
English (giacaphe.com)
