Coffee prices on October 26, 2021: London Robusta skyrocketed

Rate this post

Concerns about supply shortages due to the implementation of social distancing pushed the price of Robusta coffee on the London floor to skyrocket on the first day of announcement (FND).

London Robusta chart January 1, 2022 session on October 25, 2021

Ending the first session of the week, the price of Robusta coffee on the ICE Europe – London floor extended the rising chain to the fifth session. The November spot term increased by $73, to $2,207/ton, the January 2022 delivery term increased by $54, to $2,195/ton and the March delivery term increased by $36, to $2,133 /ton, strong increases. Trading volume very high above average. The inverse price structure is widening the gap. London Robusta prices rose to near four-and-a-half year highs.

Similarly, the price of Arabica coffee on the ICE US floor – New York reversed to increase. December spot futures rose 2.70 cents to 202.55 cents/lb and March 2022 futures rose 2.55 cents to 205.15 cents/lb, very significant gains. Trading volume very above average.

The price of green coffee beans in the Central Highlands provinces increased by 400-500 VND, to range from 41,000 to 41,600 VND/kg.

Price of export Robusta coffee grade 2.5% black broken, standing at 2,015 USD/ton, FOB – HCM, with a deduction of 170 – 180 USD/ton according to the January 2022 futures price in London.

The reais increased by 1.26%, the exchange rate rose to 1 USD = 5.5540 Reais due to the excitement of the domestic market on the forecast that the Monetary Policy Committee (Copom) will raise the basic interest rate of the Reais. about 1.5 – 2% more according to the expected schedule until the end of 2021. Brazilian economic experts believe that, although the Central Bank of Brazil (BC) will cause a shock to the market, this will also make the VND Reais adds value in emerging coins.

The price of coffee futures skyrocketed on the first day of announcement (FND) not out of concern about delayed supply. The market raised rumors that the Brazilian industry had to contract to buy Robusta coffee from Vietnam in the fastest time to implement the production plan because the price in the domestic market kept increasing, causing farmers “freeze”, although the Brazilian Deputy Minister of Agriculture has taken to the media to deny this.

The coffee market also has more information, although Vietnam has reopened, but the first batch of Robusta coffee exported after the distance must wait until mid-November at the earliest because of a lack of space on the ship due to stagnant goods. too much. This stagnation is not only in Vietnam but occurs in most of the world’s cargo export ports and the market has speculated that it is unlikely that by mid-2022 will return to normal.

ANhan Van (giacaphe.com)

Leave a Reply

Your email address will not be published. Required fields are marked *