The price of coffee on the two futures exchanges decreased after the hot session of last week, which was expected by the market…
Robusta chart London T11/2021 session on October 4, 2021
At the end of the first session of the week, the price of Robusta coffee on ICE Europe – London reversed to decline. The November spot term decreased by 20 USD, to 2,148 USD/ton and the delivery term in January 2022 decreased by 21 USD to 2,140 USD/ton, significant reductions. Trading volume below average.
Similarly, the price of Arabica coffee on the ICE US floor – New York also reversed down. December spot futures fell 3.70 cents to 200.35 cents/lb and March 2022 delivery fell 3.65 cents to 203.25 cents/lb, significant reductions. Trading volume above average.
The price of green coffee beans in the Central Highlands provinces decreased by 300-400 dong, to range from 40,800 to 41,300 dong/kg.
Price of export Robusta coffee grade 2.5% black broken, standing at 1,990 USD/ton, FOB – HCM, with a deduction of 140 – 150 USD/ton according to the January 2022 futures price in London.
The reais fell 1.45%, the exchange rate fell to 1 USD = 5.4460 Reais due to concerns about risks from the Chinese economy and US monetary policy, while the impact of the global energy shortage demand will make world economic growth worse is inevitable.
It is not surprising that the price of coffee on the two exchanges decreased after the hot session of last week. In addition to the Brazilian weather report at the weekend, there was heavy rain and it is forecast that this week will continue to have heavy rain covering the southern coffee belt, which is very favorable to activate the coffee tree to flower a new crop, the main the end of the dry winter.
In addition, the information that the Central Highlands coffee region of Vietnam has a lot of rain will support Robusta coffee to increase productivity and especially the Government’s measures to ease social distancing to open the export of agricultural products. , helping the market reduce the worry of short-term supply shortage.
English (giacaphe.com)
