Coffee prices continue to decline, making it difficult for exporters, while sea freight has begun to drop significantly …
Robusta London T5 / 2021 chart session on March 5, 2021
At the end of the last session of the week, Robusta coffee prices on ICE Europe – London had a sixth consecutive session. May spot futures dropped another 25 USD, down to 1,381 USD / ton and July futures dropped another 27 USD, to 1,400 USD / ton, the decline is very significant. Trading volume in average.
Similarly, Arabica coffee prices on the ICE US – New York floor also fell for the sixth consecutive session. May spot futures fell 3.3 cents, down 128.85 cents / lb and July futures dropped 3.2 cents, to 130.85 cents / lb, the sharp decline. Trading volume very high above mGermany medium.
The price of coffee beans in the Central Highlands provinces decreased by 100-200 VND, down to fluctuate in the frame of 31,700 – 32,400 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,460 USD / ton, FOB – HCM, with a plus difference at 50-60 USD / ton in term of July in London.
Reais copper fell 0.38%, to $ 1 = 5,6820 Reais, the lowest level since the beginning of the year due to the negative impact of the foreign exchange market, especially the long-term rise in interest rates on Treasury bonds US silver continues to put pressure on emerging currencies. USDX and US stocks increased sharply, speculative capital continued to be withdrawn from commodities in general, causing high liquidity markets such as gold and coffee to continue to plunge.
Coffee prices on the two floors continued to decline. It seems the market needs one right now “Nudge” possible in the short term from monetary policies such as interest rates on loans, stronger national and regional economic stimulus programs. Meanwhile, investors continue to expect the $ 1.9 trillion funding package are not ready for the final vote of the US Senate.
English (giacaphe.com)
