The focus of attention of the markets in general at the moment is the issue of raising the USD base interest rate…
Robusta chart London T5/2022 session on 04/05/2022
At the end of the session, the price of Robusta coffee on the ICE Europe – London floor continued the third session’s decline. The May spot futures fell by another 15 USD, to 2,117 USD/ton and the July delivery term decreased by 12 USD to 2,110 USD/ton, significant reductions. Trading volume on average.
On the contrary, the price of Arabica coffee on the ICE US floor – New York continued the increase in the sixth session. Spot futures in May added 0.70 cents to 231.30 cents/lb and futures for July delivery added 0.65 cents to 231.25 cents/lb, slight gains. Trading volume remained very above average.
The price of green coffee beans in the Central Highlands provinces decreased by 200-300 VND, to range from 40,800 to 41,400 VND/kg.
Arabica coffee prices continued to have support when gold prices, crude oil prices dropped again due to signs of conflict in Eastern Europe easing somewhat.
The February Trade Report of the International Coffee Organization (ICO) shows that in the last 12 months (March 2021 to February 2022) global exports of Arabica coffee reached 80.8 million bags, a decrease 1.46% year-on-year, while Robusta exports amounted to 48.6 million bags, up 2.32% over the same period.
The issue of raising the basic USD interest rate by the Federal Open Market Committee (FOMC) at the May policy meeting has been heated up by the market, especially today, the minutes of the last meeting will also be published. The market expressed concern, when speculating that the strong hand this period will lead to the possibility of USDX surpassing the 100 mark, causing the world to face increasing inflationary pressure is inevitable…
Meanwhile, the Reais exchange rate increased by 1.12% to 4.6610 Reais for 1 USD, which also contributed to supporting coffee prices in New York to prolong the short-term uptrend.
. English (giacaphe.com)
