The structure of the island price in the near term is further expanded to attract traders to quickly bring coffee to London to register for auction…
Robusta chart London T11/2021 session on September 7, 2021
Ending the session, the price of Robusta coffee on ICE Europe – London increased for the third consecutive session. The November spot term increased by 20 USD, to 2,102 USD/ton and the delivery term in January 2022 increased by 28 USD, to 2,069 USD/ton, significant increases. Trading volume below average. The island price structure widens the gap.
Similarly, the price of Arabica coffee on the ICE US floor – New York has the same upward trend. December spot futures rose 0.95 cents to 193.95 cents/lb and March 2022 futures also gained 0.95 cents to 196.65 cents/lb, significant gains. Trading volume above average.
The price of green coffee beans in the Central Highlands provinces increased by 200-300 dong, up to range from 40,500 to 41,200 dong/kg.
Price of export Robusta coffee grade 2.5% black broken, standing at 1,949 USD/ton, FOB – HCM, with a deduction of 110 – 120 USD/ton according to the January 2022 futures price in London.
The reais increased slightly by 0.01%, the exchange rate rose to 1 USD = 5.1706 Reais because the Brazilian domestic market was on Independence Day holiday, while the outside market also had no positive news in the context of the epidemic. The new mutated covid-19 disease continues to hold back the recovery of the world economy. The European Central Bank (ECB) said it is also considering cutting asset purchases to prevent excess inflation. Some leading economists say that it seems impossible to contain the momentum of inflation (!).
New York coffee prices returned to the upside as the news about the early rains in the Basil coffee belt was insignificant, but the forecast from next week will be abundant rainfall starting the spring rain, flowering season of Conilon Robusta coffee in the lowlands first.
Meanwhile, the London market still maintained its upward momentum and especially the island price structure widened the gap in the near term, in order to attract traders to bring coffee to the floor to register for auction faster.
English (giacaphe.com)
