The financial markets expressed concern about the global economic recovery to the new conoravirus variant, while the possibility of frost in the Brazilian coffee regions is believed to be very low…
Robusta chart London September 2021 session on June 29, 2021
At the end of the session, the price of Robusta coffee on the ICE Europe – London exchange reversed to decline. The September spot term fell by $36 to $1,675 per tonne and the November delivery term fell by $33 to $1,690 per ton, sharp declines. Trading volume very above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York has a downward trend. September spot futures fell 2.50 cents to 160.20 cents/lb and December futures fell 2.35 cents to 163.10 cents/lb, very significant declines. Trading volume above average.
The price of green coffee beans in the Central Highlands provinces decreased by 500-600 VND, to range from 34,900 to 35,700 VND/kg.
Price of export Robusta coffee grade 2.5% black broken, stood at 1,675 USD/ton, FOB – HCM, according to September futures price in London.
The reais fell 0.28%, the exchange rate fell to 1 USD = 4,9420 Reais due to concerns about higher-than-expected tax rates and the increase in electricity prices due to drought, which would have to trigger more thermal power, which would weigh on the pocket of the people. consumers and contribute to inflation. Weakness in major financial markets fueled uncertainty around a slowing global economic recovery due to the novel coronavirus variant.
Coffee prices turned lower as yesterday’s temperatures showed a very low chance of frost in southern Brazil’s coffee growing regions. However, the market has a new concern that when the price of coffee increases, accompanied by a strong Reais, it will cause Brazilian farmers to cancel their coffee futures contracts because they lose.
However, the weather in southern Brazil’s coffee regions is still closely watched by the market full moon days in the winter months (June, July, August).
The General Department of Statistics of Vietnam has just released an export estimate for June, showing that the export volume of coffee this month is estimated at 110,000 tons, down 13.80% compared to the same period last year, bringing exports in the first 6 months of the year. now is estimated at 825,000 tons, equivalent to 13.75 million bags, down 12.30% compared to exports in the first 6 months of 2020.
English (giacaphe.com)
