The current price gap continues to support the London floor Robusta coffee price …
Robusta London T7 / 2021 chart session on April 30, 2021
At the end of the last session of the week, Robusta coffee prices on ICE Europe – London increased. July spot futures increased by 4 USD, to 1,456 USD / ton, futures for September delivery also increased by 4 USD, to 1,479 USD / ton, the slight increase. Trading volume maintained above average. London prices remained stable at a 7-week high.
In contrast, Arabica coffee prices on the ICE US – New York floor continued to decline. July spot futures decreased 1.55 cents, down 141, 45 cents / lb and futures for September delivery fell 1.5 cents, to 143.4 cents / lb, the decline is very significant. Trading volume quite high tgroan mGermany medium.
The price of coffee beans in the Central Highlands provinces increased slightly from 0 to 100 VND, up fluctuating in the frame 33,200 – 33,800 VND / kg.
Export Robusta coffee price grade 2, 5% broken black, stood at 1,506 USD / ton, FOB – HCM, with a plus difference at 40-50 USD / ton in term of July in London.
Reais copper plunged 1.76%, the rate dropped to 1 USD = 5.4290 Reais as USDX rebounded in the strong basket of currencies with the confirmation of Fed’s omen is ready to stimulate until the US economy recovered again due to the negative effects of the covid-19 pandemic.
Coffee prices continued to reverse as expected due to the level gCurrent gap onions Not beneficial for Arabica New York coffee but good support for London Robusta coffee.
The market also has an impact from the report of the General Statistics Office of Vietnam estimated coffee exports in April only reached 110,000 tons, down more than 35% from the previous month, in the context of demand for Robusta coffee as the whole. materials for the instant coffee production industry are increasingly high.
English (giacaphe.com)
