Coffee prices on June 8, 2021: Robusta continues to increase

According to ICO report data, global coffee exports in the first 7 months of the current crop year increased with Arabica but decreased with Robusta.

Robusta chart London July 2021 session on 07/06/2021

At the end of the first session of the week, the price of Robusta coffee on ICE Europe – London continued to increase. Futures for delivery in July increased by 13 USD, to 1,625 USD/ton and for September delivery also increased by 13 USD, to 1,651 USD/ton, significant increases. Trading volume remained very high above average.

On the contrary, the price of Arabica coffee on the ICE US floor – New York reversed to decrease. July spot futures fell 1.50 cents to 160.15 cents/lb and September futures fell 1.45 cents to 162.20 cents/lb, significant losses. Trading volume remained very high above average.

The price of green coffee beans in the Central Highlands provinces increased by 100-200 VND, up to range from 34,200 to 35,100 VND/kg.

The price of exported 2.5% black Robusta coffee stood at $1,638 per ton, FOB – HCM, according to September futures prices in London.

The Reais fell slightly by 0.01 %, the rate fell to 1 USD = 5,0370 Reais after the slight recovery of USDX against the rates of emerging currencies in general.

Coffee prices returned mixed due to the shift in capital flows of speculators across the markets and the retracement of digital currencies. While the coffee derivatives markets have had the phenomenon of buying and selling at a gap between the two exchanges for short-term profit.

According to observers, the G7 summit that fixed a minimum tax rate of 15% for multinationals also contributed to a mass correction across all markets and portfolios in general.

Analyst-consultant Safras & Mercados reports that as of early June, Brazil has harvested about 20% of this year’s total crop, slightly slower than in previous years. Because farmers want higher fruit ripening rate, because the early rains come late, causing the cotton crop to be delayed.

The General Statistics of Vietnam estimated that coffee exports in May, mainly Robusta coffee, will decrease by 11.30% compared to the same period last year, to 2,250,000 bags, bringing exports in the first 5 months of the year. currently estimated at a total of about 12 million bags, down 11.40% compared to exports in the first 5 months of 2020. According to export traders, the drop was mainly due to the logistics sector as shortages of empty containers and soaring ocean freight rates slowed down deliveries.

English (giacaphe.com)

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