Coffee prices increased “shockingly” when the market had more reports of damage caused by frost on the Brazilian coffee belt…
Robusta chart London September 2021 session on 22/07/2021
Ending the session, the price of Robusta coffee on ICE Europe – London increased for the third consecutive session. The September spot term increased by 110 USD, to 1,889 USD/ton and the November delivery term increased by 108 USD, to 1,895 USD/ton, extremely strong increases. Trading volume very above average. London futures prices rose to a three-and-a-half year high.
Similarly, the price of Arabica coffee on the ICE US floor – New York also continued to increase. September spot futures added 17.65 cents to 193.65 cents/lb and December futures added 17.70 cents to 196.60 cents/lb, extremely strong gains. Trading volume at the “terrible” level. New York futures prices rose to a six-and-a-half year high.
The price of green coffee beans in the Central Highlands provinces increased by 800-1,000 VND, to range from 37,300 to 38,000 VND/kg.
The price of exported Robusta coffee grade 2.5% black broken, stood at 1,815 USD/ton, FOB – HCM, with a deduction of 70 – 80 USD/ton according to the November futures price in London.
The Reais fell 0.38%, the rate fell to 1 USD = 5,2110 Reais due to fluctuations in the external market as the US economic data report was somewhat weakened because of the negative impact of the coronavirus. new body, while US stocks have regained the green.
The price of coffee continues the “shocking” increase when there are more damage reports “unpredictable” caused by frost on the Brazilian coffee belt. Not only is the output of this year’s crop currently harvested, but the market is also worried that the output in 2022 will decrease sharply because that is the year Brazil’s Arabica coffee trees enter the cycle for high output. This is also a factor that shows that the price of coffee futures will continue to fluctuate strongly and erratically in the near future.
Meanwhile, coffee-producing countries in Southeast Asia are also focusing their efforts to prevent the new variant of covid-19 from spreading with increasing social distancing measures.
English (giacaphe.com)
