The New York market has had a chain of significant reductions, but the current price gap is still beneficial for Robusta coffee, while the demand for materials for the instant coffee industry is increasing …
Coffee farmers in Sumatra, Indonesia’s main coffee-growing island
Ending the session alone at the beginning of the week, Arabica coffee prices on the ICE US – New York floor continued to decline for the fourth session. July futures fell 1.2 cents, down 140.25 cents / lb and September futures dropped 1.25 cents, to 142.15 cents / lb, the significant reductions. Trading volume in mGermany medium.
Meanwhile, the price of Robusta coffee on the ICE Europe – London floor did not change, due Markets are closed for the UK Boxing Day holiday.
The price of green coffee in the Central Highlands provinces has not changed, still fluctuating in the frame of 33,200 – 33,800 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,506 USD / ton, FOB – HCM, with the plus difference at 40-50 USD / ton in term of July in London.
Reais copper rose 0.18%, rate increased at 1 USD = 5,4190 Reais before the possibility that Copom Brasil would raise the basic interest rate for Reais copper in the upcoming policy meeting. While outside markets eased concerns after the Fed chairman’s statement about being ready to stimulate until the US economy recovers and will pay attention to a fair economy due to Inequalities are weighing on production capacity. It seems that the US will increase the subsidy for the unemployed because of covid-19, who has a low income and raise the minimum wage.
According to the US Center for Climate Forecast, the La Nina weather phenomenon is decreasing and will disappear in the next few months. This means increased rainfall and there will be no more chance to frost in the main coffee regions of Brazil during the next three winter months, reducing consumer market concerns about coffee production. Brazil’s upcoming seasons.
Coffee prices continue their weakening trend due to levels gCurrent gap onions Not conducive to Arabica New coffee York. However, the market still expects London Robusta coffee prices when the demand for materials for the instant coffee industry is increasing.
Government trade data from Sumatra, Indonesia’s main coffee-producing island, showed the island’s Robusta coffee exports in April were only 193,460 bags, down 81,388 bags, or 29.61% lower. in the same period last year. Therefore, the cumulative exports of coffee in Indonesia in the first 7 months of the current coffee season 2020/2021 only total 1.439 million bags, down by 25.83% compared to the same period of the previous coffee season. .
It is known that in the first quarter of this year Indonesia had to import a considerable amount of coffee from Brazil to supplement the diverse domestic demand.
English (giacaphe.com)
