The Vietnamese government’s switch to the “5T” plan to prevent and control the Covid-19 epidemic will help the circulation of goods in the domestic market more smoothly.
Robusta chart London T11/2021 session on September 2, 2021
At the end of the session, the price of Robusta coffee on ICE Europe – London reversed to decrease. The November spot term decreased by 10 USD, down to 2,056 USD/ton and the term for delivery in January 2022 decreased by 7 USD, to 2,021 USD/ton, slight decreases. Trading volume very below average.
Similarly, the price of Arabica coffee on the ICE US floor – New York dropped for the third consecutive session. December spot futures fell another 1.30 cents to 194.35 cents/lb and March 2022 futures fell another 1.20 cents to 197.05 cents/lb, slight declines. Trading volume above average.
The price of green coffee beans in the Central Highlands provinces decreased by 100-200 VND, down to the range of 40,000-40,600 VND/kg.
Export price of Robusta coffee grade 2.5% black broken, stood at 1,901 USD/ton, FOB – HCM, with a deduction of 110 – 120 USD/ton according to the January 2022 futures price in London.
The reais is stable, the exchange rate is still at 1 USD = 5.1820 reais even though the tax reform proposal is almost going to be passed, but financial and political instability still haunts the country. While USDX continues to weaken in a basket of strong currencies, it helps emerging currencies regain more or less value.
Coffee futures prices fell as weather reports Brazil began to have scattered rain on the coffee belt in the south, although the rainfall was still negligible and mainly in the Conilon Robusta growing areas, while the Arabica-growing states remain hot and dry until mid-September.
The Vietnamese government has switched to the “5T” plan to prevent the Covid-19 epidemic. The ability to circulate goods in the domestic market will be easier and therefore, the amount of Robusta coffee delivered to export ports will gradually increase, although sea freight charges are still very high, which will be a very significant barrier. tell.
The Indonesian government’s trade agency reported that coffee exports in August reached 104,178 bags, down 70.45% year-on-year, contributing to the cumulative exports of Robusta coffee in the first 11 months of the crop year. The current coffee crop 2020/2021 totals 1,857,749 bags, a decrease of 1,175,909 bags, or 38.76% decrease compared to the same period of the previous crop year, while the output of the new coffee crop year 2021/2022 is estimated. totaling 11.35 million bags, down 2.16% compared to the previous crop year.
English (giacaphe.com)
