Weather reports of major growing areas in the southeast had rains favorable for coffee tree growth and weak Reais copper stimulated Brazilian sales.
Robusta London T5 / 2021 chart session on March 15, 2021
Ending the first session of the week, Robusta coffee prices on ICE Europe – London continued to decline. May spot futures dropped another 15 USD, down to 1,388 USD / ton and July futures also dropped another 15 USD, to 1,412 USD / ton, the decline is very significant. Trading volume maintained very low below average.
Similarly, Arabica coffee prices on the ICE US – New York floor also tended to decrease. May spot futures fell 0.9 cents, down 132.1 cents / lb and July futures fell 0.85 cents, to 134.1 cents / lb, the significant reductions. Trading volume quite high above mGermany medium.
The price of coffee beans in the Central Highlands provinces decreased by 200-300 VND, down fluctuating in the frame of 32,200 – 32,600 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,472 USD / ton, FOB – HCM, with the plus difference at 50-60 USD / ton in term of July in London.
Reais copper plummeted 1.42%, to $ 1 = 5.6390 Reais due to foreign investors’ concern about political instability and increasing domestic epidemic that made Brazil infected. covid-19 infection ranks second in the world. Bank of Brazil (BC) had to intervene with a foreign currency swap auction to help stop the decline in the Reais.
Although there have been many forecasts for the upcoming harvest of the world’s leading coffee producer plummeting, the weak Reais copper has supported them to boost their sales, causing the price of coffee on two floors to drop. preventable.
The weather report in the main coffee growing areas in southeastern Brazil had rained, favorable for coffee trees to develop a new crop, also contributed to the weakening of two-floor coffee prices.
. English (giacaphe.com)
