Sea freight is too high making deliveries from major producing countries such as Brazil and Vietnam delayed Slowing down also contributes to price push in the short term.
Robusta chart London September 2021 session on 14/07/2021
At the end of the session, the price of Robusta coffee on the ICE Europe – London exchange rebounded. The September spot term increased by $45 to $1,762/ton and the November delivery term increased by $44 to $1,756/ton, strong gains. Trading volume on average. The island price structure increases the gap.
Similarly, the price of Arabica coffee on the ICE US floor – New York has the same upward trend. September spot futures rose 4.35 cents to 156.60 cents/lb and December futures also rose 4.35 cents to 159.45 cents/lb, strong gains. Trading volume on average.
The price of green coffee beans in the Central Highlands provinces increased by 500-600 VND, up to a range of 36,100 – 36,700 VND/kg.
The price of exported 2.5% black Robusta coffee stood at $1,717/ton, FOB – HCM, according to September futures prices in London.
The reais rose 1.87%, the exchange rate rose to 1 USD = 5.0840 reais due to strong foreign exchange inflows, while USDX was heavily influenced by US inflation data, making it difficult for the Fed to collect Narrow stimulus measures sent most commodity markets into the red.
However, coffee prices on the two futures exchanges reversed to increase with the support of a stronger Reais, but also due to rumors that some coffee regions in Minas Gerais, the largest Arabica coffee growing state in Brazil, will have frost. local prices by the middle of next week, by page Barchat.com said.
In addition, coffee traders in São Paulo, the heart of Brazil’s coffee trade, believe that sea freight rates are too high, causing delays in deliveries from major producing countries such as Brazil and Vietnam. push prices in the short term.
The Uganda Coffee Development Authority (UCDA), Africa’s largest Robusta producer, reported coffee exports in June reaching their highest level since 1991 with a total of 618,388 bags, up 47.04%. compared to the same period last year. Therefore, cumulative coffee exports in the first 9 months of the current crop year 2020/2021 totaled 4,509,437 bags, an increase of 718,348 bags, or an increase of 18.95% compared to the same period of the previous coffee crop year.
English (giacaphe.com)
