The world coffee market is still concerned about the lack of supply from the main producing countries…
Robusta chart London T11/2021 session on September 30, 2021
At the end of the session, the price of Robusta coffee on the ICE Europe – London exchange increased. The November spot term increased by 10 USD, to 2,126 USD/ton and the term for delivery in January 2022 increased by 9 USD, to 2,119 USD/ton, slight increases. Trading volume below average.
Similarly, the price of Arabica coffee on the ICE US floor – New York has the same upward trend. December spot futures rose 0.60 cents to 194 cents/lb and March 2022 futures rose 0.55 cents to 196.80 cents/lb, slight gains. Trading volume above average.
The price of green coffee beans in the Central Highlands provinces increased by 100-200 VND, up to range from 40,500 to 41,000 VND/kg.
Price of export Robusta coffee grade 2.5% black broken, standing at 1,969 USD / ton, FOB – HCM, with a deduction of 130 – 150 USD / ton according to the January 2022 futures price in London.
The reais fell 0.34%, the exchange rate fell to 1 USD = 5.4490 Reais due to the bad mood of the external market, although the Brazilian market was optimistic in the first half of the last session of the month. USDX and US stocks continue their rally as the Fed president says it may be “use every tool possible” then it’s nothing but the possibility of a rate hike, according to market speculation.
Coffee prices on the two floors adjusted up after the previous session of strong decline when the weather forecasted to have heavy rain in the Brazilian coffee belt. However, according to coffee farmers, heavy rainfall is concentrated in low-lying areas that grow a lot of Robusta, while in the main Arabica-growing regions, only scattered and local rain has appeared, so it is still not enough to activate coffee plants. new crop of coffee.
The market also expects that the Vietnamese Government will relax social distancing measures from October 1 and therefore, export agricultural products will be cleared soon.
English (giacaphe.com)
