The pressure of short supply of new crop combined with social instability at key producers continued to push up New York floor coffee prices….
Robusta London chart Saturday / 2021 session on May 6, 2021
At the end of the session, Robusta coffee prices on ICE Europe – London rose for the third consecutive session. July spot futures increased by 9 USD, to 1,547 USD / ton and futures for September delivery increased by 10 USD, to 1,569 USD / ton, the slight increase. Trading volume above average. Robusta London prices stood at an 8-month high.
Similarly, Arabica coffee prices on the ICE US – New York floor are in the same upward trend. July futures increased 4.45 cents, to 154.3 cents / lb and September futures also increased by 4.45 cents, to 156.2 cents / lb, the strong increase. Trading volume very high above mGermany medium. New York Arabica prices stood at 4 years higher.
The price of coffee beans in the Central Highlands provinces increased by 100-200 VND, up fluctuating in the frame of 34,400 – 34,900 VND / kg.
Export Robusta coffee price of grade 2, 5% broken black, stands at 1,589 USD / ton, FOB – HCM, with a plus difference of 20 USD / ton according to the term in September in London.
Reais copper increased by 1.06%, the exchange rate increased at 1 USD = 5.2780 Reais is believed to be the result of Copom Brasil increasing the basic interest rate by 0.75% to 3.5% / year to against inflation and is considered by many economists as a reasonable increase. This positive may encourage Copom to strengthen the Reais further against the USD. The market feels something is causing USD fragility relative to emerging currencies and commodities at the moment.
Prices of coffee on two floors followed the rise when the protests in Colombia caused bloodshed. The number of people killed and injured in conflict with the police increased The Bogotá Post The report has caused concerns about short-term shortages in supply of Arabica on the New York floor, even though it was offset by Brazil’s lower quality wet processed Arabica. Colombia is the world’s leading producer of high quality wet processed Arabica coffee.
In its latest regular report, the International Coffee Organization (ICO) adjusted global coffee production for the current season by 1.32% to 169.63 million bags and, therefore, redundancy. global prices also dropped to 3.29 million bags instead of 5.26 million bags previously reported. This also contributes to the worry of inventories bringing into the new coffee crop 2021/2022 a further shortage, while the forecast for Brazilian output of the new crop has dropped significantly.
The demonstration by the workers of the port of Santos took place in a peaceful place and was recognized by the State Government and confirmed that it would change the Covid-19 vaccination plan according to the specifics of each region.
English (giacaphe.com)
