Coffee prices on 11/06/2021: slight recovery

The coffee derivatives market entered the stage “weather business” Therefore, weather reports in the main coffee producing regions of Brazil also caused prices to become erratic in the interest of speculators.

Robusta chart London July 2021 session on 10/06/2021

At the end of the session, the price of Robusta coffee on the ICE Europe – London exchange increased. Futures for spot delivery in July increased by 3 USD, to 1,585 USD/ton and for September delivery also increased by 3 USD, to 1,611 USD/ton, slight increases. Trading volume on average.

Similarly, the price of Arabica coffee on the ICE US floor – New York also reversed to increase. July spot futures rose 1.50 cents to 158.70 cents/lb and September futures also rose 1.50 cents to 160.80 cents/lb, significant gains. Trading volume remained very high above average.

The price of green coffee beans in the Central Highlands provinces increased from 0 to 100 VND, up to range from 33,700 to 34,300 VND/kg.

The price of exported 2.5% black Robusta coffee stood at $1,611 per ton, FOB – HCM, according to September futures prices in London.

The reais rose slightly by 0.07%, the exchange rate rose to 1 USD = 5,0660 reais due to the caution of foreign investors in the face of higher-than-expected US economic inflation data, causing the USD to depreciate against the US dollar. emerging currencies. Meanwhile, domestic investors started to make adjustments ahead of the expected possibility that Copom Brasil will raise the basic interest rate of the reais at the monetary policy meeting next week and the anticipation of policy changes. similar currencies of the world this month.

Coffee prices recovered slightly on both futures exchanges due to concerns that this year’s Brazilian crop output would drop. However, observers say that negotiations Brexit The end is not clear and Europe still has social restrictions that make the London Robusta coffee market still underinvestment.

According to data reported by Vietnam Customs, coffee exports in May reached 130,285 tons, equivalent to 2,171,400 bags, down 1.38% from the previous month, bringing coffee exports in the first 5 months of the year to reach total 715,263 tons, about 11.92 million bags, down 12.01% over the same period last year.

The reason for the decline is said to be due to the high increase in shipping rates, which slows down the delivery of goods, while the inventory of farmers is almost negligible.

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