The International Coffee Organization’s (ICO) April Trade Statistics report shows that global coffee exports in the first seven months of the current crop year 2020/2021 increased by more than 4.1 percent, a sign of the abundant supply.
Robusta chart London July 2021 session on 03/06/2021
At the end of the session, the price of Robusta coffee on ICE Europe – London reversed to decrease. Futures for spot delivery in July decreased by 12 USD to 1,589 USD/ton and for September delivery decreased by 11 USD to 1,616 USD/ton, a significant decrease. Trading volume remain above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York also reversed down. July spot futures fell 3.55 cents to 157.6 cents/lb and September futures fell 3.50 cents to 159.65 cents/lb, significant declines. Trading volume remained very high above average.
The price of green coffee beans in the Central Highlands provinces decreased by 100-200 VND, down to range from 33,600 to 34,500 VND/kg.
The price of exported 2.5% black Robusta coffee stood at $1,616/ton, FOB – HCM, according to September futures prices in London.
The Reais increased by 0.07%, the exchange rate rose to 1 USD = 5,0770 Reais due to the general optimism of the world economy when the number of people being vaccinated is increasing. In particular, WHO announced that it will distribute 25 million doses this month through the “Global Access to a Covid-19 Vaccine” (COVAX) .
The price of Robusta coffee reversed to decrease after the chain increased by more than 8%, which is an inevitable trend of the market. Investors need to strengthen their positions before the selling pressure of the new crop of Brazil and Indonesia starts to increase.
Meanwhile, Arabica coffee prices reversed to decrease after the April Trade report of the International Coffee Organization (ICO) just released. According to the report, global coffee exports in the first seven months of the current coffee crop year 2020/2021 increased by 4.1 percent to a total of 77.53 million bags compared with 74.49 million bags in the same crop year. coffee first, a sign of abundant current supply.
According to Somar’s weather forecast in Brazil, there will be an early-season cold air mass entering the south and will bring rain over the main coffee growing regions of Brazil early next week, also contributing to the price of coffee futures. decline.
English (giacaphe.com)
