Dry weather is likely to reduce Brazil’s coffee output in the next season by at least 25%, according to Procafé, …
Robusta London T1 / 2021 chart session on November 19, 2020
KAt the end of the session, Robusta coffee prices on ICE Europe – London dropped for the third consecutive session. Futures for delivery in January decreased by 11 USD, down to 1,391 USD / ton and futures for delivery in March dropped by 6 USD, to 1,403 USD / ton, the significant decreases. Trading volume is at medium level.
In contrast, Arabica coffee prices on the ICE US – New York floor have for the fourth consecutive session. Futures for delivery in March increased by 0.35 cents, to 123.2 cents / lb and for May futures also increased by 0.35 cents, to 125.05 cents / lb, slight increases. Trading volume is above average.
The price of coffee beans in the Central Highlands provinces decreased by 100-200 VND, down fluctuating in the frame of 33,200 – 33,600 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,523 USD / ton, FOB – HCM, with the difference plus 100 – 120 USD / ton according to the term price in March in London.
Reais copper rose slightly 0.41%, to stand at $ 1 = 5.3140 Reais following the positive trend of emerging countries currencies, while USDX fell again as the disease increased caused New York has to close schools from today.
The International Monetary Fund (IMF) has warned that the second covid-19 epidemic is slowing the growth of the world economy and the countries need timely support. European Central Bank (ECB) announced that it will adjust the basic interest rate of Euro even though the EU leaders have not reached a consensus on the 750 billion Euro recovery package. Meanwhile, there have been signals of a Congressional meeting later this month to review the new funding package as tens of millions of people are running out of benefits by the end of the year.
Coffee prices maintain a mixed trend when the market is still worried about storms causing a new harvest in Central America to lose revenue, while prolonged dry weather in Brazil causes coffee flowers to bloom. damaged, burnt leaves, productivity in the upcoming crop will decrease by at least 25%, even the severity “Unforeseen all”, according to Procafé.
The Foreign Agriculture Division of the US Department of Agriculture (USDA) has just released the crop report of some coffee producing and exporting countries in the world. In general, global coffee production and exports continue a steady trend to a slight decrease in coffee year 2020/2021.
English (giacaphe.com)
