Coffee consumption will quickly recover when many European and American countries remove social distancing thanks to the rapid increase in the number of people being vaccinated against covid-19…
Robusta chart London July 2021 session on May 18, 2021
At the end of the session, the price of Robusta coffee on the ICE Europe – London exchange jumped sharply. Futures for spot delivery in July increased by 56 USD, to 1,515 USD/ton and for September delivery increased by 55 USD, to 1,539 USD/ton, very strong increases. Trading volume remain average.
Similarly, the price of Arabica coffee on the ICE US floor – New York continued to increase. July spot futures increased by 7.05 cents to 152.8 cents/lb and September futures added 7 cents to 154.75 cents/lb, very strong gains. Trading volume very high above mbreast medium.
The price of green coffee beans in the Central Highlands provinces increased by 700-800 VND, up to range from 33,500 to 34,000 VND/kg.
Price of export Robusta coffee grade 2.5% black broken, stood at 1,559 USD/ton, FOB – HCM, with a plus difference at 20 USD/ton according to September futures prices in London.
The reais rose 0.24%, the exchange rate rose to 1 USD = 5.2530 Reais, recovered for the third consecutive session in anticipation of information from the outside market, focusing on the minutes of the April meeting of the The Fed will be announced tomorrow, with the possibility that the Fed will maintain its current economic stimulus policy and inflation is at a low level. “nothing to worry about”. US stocks lost points when speculative capital flow returned to commodity exchanges to increase buying.
The price of coffee returned to an upward trend that was not outside the market, but the strong increase was thanks to the circulation of speculative capital between the derivatives markets. First of all, the virtual currency exchanges plunged again, adding to the support that the US stock market was in the red, USDX continued to decline in the basket of strong currencies.
In addition, April inventories of the North American Coffee Association (GCA) increased by 1.47% compared to the previous month but decreased by more than 11.6% over the same period last year. This raises concerns when the supply of Arabica is showing signs of slowing down, in the context of increased consumption demand as European and American countries open their doors thanks to the rapid increase in the number of people being vaccinated against covid-19.
Analysts say the upward momentum in coffee prices is really solid as Brazil embarks on the harvest of a new coffee crop, with output falling due to drought early in the season and low-yielding coffee trees entering the cycle. , was clearly displayed.
English (giacaphe.com)
