Fear of out-of-control inflation caused commodity prices to drop again while oil prices continued their hot rise…
New York Arabica chart July 2022 session on June 3, 2022
Ending the opening session late alone at the weekend, the price of Arabica coffee on the ICE US floor – New York continued to decline. July spot futures fell another 5.85 cents to 232.40 cents/lb and September futures fell another 5.70 cents to 232.55 cents/lb, significant reductions. Trading volume remained very above average.
Meanwhile, ICE Europe – London continues to be closed Ceremony Platinum (Celebrating 70 years of the British Queen’s reign (Platinum Jubie)no transaction.
The price of green coffee beans in the Central Highlands provinces remained unchanged, still fluctuating in the range of 41,600 – 42,100 VND/kg.
The price of Arabica coffee in New York dropped again as investors continued to take short-term profits and liquidated after the previous strong net buying period, because of fear of cold weather in Arabica coffee growing areas. mainly in southeastern Brazil.
Not only the decline in coffee prices, but the general lack of speculative commodity market as USDX continues to increase, causing emerging currencies to continue to depreciate, has prompted Brazilians to strongly sell new-season coffee. are harvesting. (1USD = 4,7780 R$)
According to the consultant – analyst Safras & Mercados, so far, Brazil has harvested about 18% of the new crop this year, quite slow compared to the 5-year average harvest at 23%, estimated at about 23%. 6 million bags of Conilon Robusta coffee and 5 million bags of Arabica have been harvested.
According to the May Trade Report of International Coffee Organization (ICO), exports from Asian countries in the first 7 months of the current coffee year 2021/2022 as Vietnam, India and Indonesia together increased their exports by 9.00% year-on-year, to a total plus 28.06 million bags. While exports from African countries during the first seven months of the current coffee year 2021/2022 fell slightly by 2.26% year-on-year, to a total of 7.35 million bags.
Celebrating 70 years of the reign of the Queen of England.
English (giacaphe.com)
