Coffee prices on 12/10/2021: continue the opposite trend

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Coffee futures prices fluctuated mixed in the context of many countries in the Americas having a long weekend and the impact of the energy crisis on the world economy…

Robusta chart London T11/2021 session on October 11, 2021

At the end of the first session of the week, the price of Robusta coffee on ICE Europe – London reversed to decrease. The November delivery term decreased by 18 USD, down to 2,099 USD/ton, the term for delivery in January 2022 decreased by 12 USD to 2,104 USD/ton and the term for delivery in March 2022 decreased by 13 USD, to 2,068 USD/ton. significant reductions. Trading volume above average. The inverse price structure is still maintained.

On the contrary, the price of Arabica coffee on the ICE US floor – New York increased for the fourth consecutive session. December spot futures increased by 2.90 cents to 204.25 cents/lb and March 2022 futures increased by 2.95 cents to 207.20 cents/lb, very significant gains. Trading volume below average.

The price of green coffee beans in the Central Highlands provinces decreased by 100-200 VND, to range from 40,100 to 40,700 VND/kg.

The price of exported Robusta coffee grade 2.5% black broken, stood at 1,954 USD/ton, FOB – HCM, with a deduction at 140 – 150 USD/ton according to the January 2022 futures price in London.

The Reais fell 0.38%, the exchange rate fell to 1 USD = 5.5370 Reais due to prolonged budget uncertainty and the weak performance of the Central Bank of Brazil (BC) in currency swaps, while the world The world is still worried about rising inflation.

London Robusta coffee prices tumbled at the beginning of the session when there was news that heavy rain in the Central Highlands will support increased yield and quality of new-season coffee beans that are about to be harvested, while Vietnam reported an increase in September exports. significantly over the same period and the easing of social distancing will help export merchants boost delivery when sea freight rates are somewhat eased.

Meanwhile, the price of New York Arabica coffee also fell sharply from the beginning of the session when investors took short-term profits and expected the market to be less active because the world’s two largest and second largest Arabica coffee producers took the first holiday. extended week. Colombia and many American countries on holiday Columbus Day, Monday 11/10 and Brazil public holiday Our Lady of Aparecida, National Patron Today is Tuesday 12/10. However, the New York market rebounded strongly in the second half of the session when it was reported that Colombian farmers refused to deliver about 1 million bags of Arabica because they were at a loss at current prices.

Many pictures show that Brazil’s Arabica coffee tree has bloomed beautifully in the new crop. But the market has not forgotten that the US Meteorological Agency has forecast that there is a possibility that a La Nina weather phenomenon will appear over the Pacific Ocean in the last quarter of this year, bringing a lot of rain to coffee-growing countries. Pacific Rim and arid for coffee regions in southeastern Brazil and West Africa, while the drought damage from the beginning of the year and the July frosts in Brazil is yet to be quantified. .

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