Following the UK, the major countries in Europe also announced to tighten social gap measures, causing the market to arouse the psychology of risk aversion …
Robusta London Tue / 2021 chart session on January 5, 2021
KAt the end of the session, Robusta coffee prices on ICE Europe – London continued to decline. Futures for delivery in March decreased by 7 USD, down to 1,365 USD / ton and futures for May delivery decreased by 8 USD, to 1,374 USD / ton, the slight decrease. Trading volume maintained in average.
Similarly, Arabica coffee prices on the ICE US – New York floor followed a downtrend. Futures for March delivery decreased 1.05 cents, down 125.1 cents / lb and futures for May delivery fell 1 cent more, to 127.1 cents / lb, the levels slightly decreased. Trading volume quite tall above average.
The price of coffee beans in the Central Highlands provinces decreased by 100 VND, down to fluctuating in the frame of 32,300 – 32,800 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,474 USD / ton, FOB – HCM, with the difference plus 80-100 USD / ton in term of May in London.
Reais copper dropped another 0.11%, down at $ 1 = 5.2640 Reais during a session where domestic and international financial markets were volatile due to increased risk aversion to new variants of Conoravirus is causing many major economies to take drastic measures of social distancing more.
Coffee prices continue to decline due to fundamentals from top producers. The weak Reais copper pushed Brazilians to continue selling, while the Brazilian trade agency report showed that coffee exports in December reached 4.24 million bags, up 34.09% over the same period. year ago and 3.49% increase over the same period in 2018, is also the year the Brazilian coffee tree is in the cycle “Two years one” for high productivity.
In addition, the weakening coffee price due to the negative impact of the new variant covid-19 epidemic has forced many major economies of the world to block and minimize external contact. However, this has spurred an increase in vaccine production as more countries announced that they would soon release their own vaccines to the masses as soon as this year.
According to the International Coffee Organization’s (ICO) November Trade Report, global coffee exports this month totaled 10.15 million bags, up 5.73% year-on-year, while Coffee exports in the first 2 months of the current crop year 2020/2021 have increased by 6.5% compared to the same period of the previous crop year.
Obviously, the shortage of supply is no longer a concern in the short term, while the selling pressure of the new crop in Vietnam is still on the rise, especially with the need to cover debt and spending during Tet Tan Suu is coming.
English (giacaphe.com)
