The coffee markets continued to correct down as speculative capital flows were shifted to other markets because of more attractive profits…
At the end of the session, the price of Robusta coffee on ICE Europe – London continued to decrease. The March spot term decreased by 12 USD to 1,895 USD/ton and the May delivery term decreased by 9 USD to 1,862 USD/ton, slight decreases. Trading volume is average.
Similarly, the price of Arabica coffee on the ICE US floor – New York has a downward trend. March spot futures fell 0.60 cents to 151.10 cents/lb and May futures fell 0.75 cents to 151.80 cents/lb, slight losses. Trading volume is above average.
The price of green coffee beans in the Central Highlands provinces decreased by 100-200 VND, down to the range of 41,200 – 41,700 VND/kg.
Coffee futures prices continued to decline after the weather report in the main coffee growing areas in southern Brazil had very favorable rain, supporting the good growth of new-season coffee berries, promising a record output. green.
The Brazilian Coffee Exporters Association (Cecafé) reported that exports of coffee beans in December totaled 2.86 million bags, down 16.57% year-on-year, including 2.81 million bags. Arabica coffee, down 14.62% and 55,490 bags of Conilon Robusta coffee, down 61.32% over the same period.
Meanwhile, the market continues to wait for the results of Conab – Brazil’s first crop survey report, which will be officially published this week, with predictions about 62-65 million bags already sold by traders. proposed by the international community.
According to observers, the stock market rebounded with commodities and the reopening of China attracted speculative capital flows to raw materials, which contributed to the short-term slump in coffee prices. .
Trade in Vietnam’s domestic market is quiet at the moment as the long Lunar New Year holiday has begun, while local traders lack the necessary credit to buy coffee and pepper from farmers. at this moment.
English (giacaphe.com)
