Concerns about Vietnam’s supply stagnation due to the covid-19 epidemic and the forecast of dry weather in the Brazilian coffee belt have contributed to boosting coffee futures prices to set new highs…
Robusta chart London T11/2021 session on August 27, 2021
Ending the last session of the week, which is also the end of August, the price of Robusta coffee on ICE Europe – London extended the chain of increases to the sixth session. The November spot term increased by 24 USD, to 2,018 USD/ton and the term for delivery in January 2022 increased by 26 USD, to 1,983 USD/ton, significant increases. Trading volume on average. The island price structure is still maintained. The price of London Robusta coffee stood at a high level since the beginning of September 2017.
Similarly, the price of Arabica coffee on the ICE US floor – New York has the same upward trend. December spot futures increased by 4.20 cents, to 192.20 cents/lb and March 2022 delivery added 4.10 cents to 194.75 cents/lb, strong gains. Trading volume very above average. New York Arabica coffee prices stood at a 4-week high.
The price of green coffee beans in the Central Highlands provinces increased by 200-300 VND, to range from 39,200 to 40,000 VND/kg.
Price of export Robusta coffee grade 2.5% black broken, stood at 1,883 USD/ton, FOB – HCM, with a deduction of 90-100 USD/ton according to the January 2022 futures price in London.
The reais rose sharply by 1.12%, the exchange rate rose to 1 USD = 5.1970 reais, after the statement of the Fed Chairman about the possibility of cutting economic stimulus and raising the basic interest rate in USD, causing the market to collect attracting foreign investors back, while US stocks also rose to a new record.
Robusta coffee prices continue to increase with concerns that Vietnam’s supply will be stagnant due to the new strain of the covid-19 pandemic, while there is still a serious shortage of containers and the cost of transporting coffee to export ports. more costly.
Somar Metorologia predicts that next month’s heat in the Brazilian coffee belt will be higher than the multi-year average, which will seriously affect when the coffee plant produces a new crop, causing speculation to return to markets where buying has already been. bringing coffee prices on both futures exchanges to new highs.
. English (giacaphe.com)
