Coffee prices on October 27, 2021: London Robusta stands at 10-year high

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Concerns about supply shortage continue to push the price of London Robusta coffee to a high of nearly 10 years…

London Robusta chart January 1, 2022 session on October 26, 2021

Ending the session, the price of Robusta coffee on ICE Europe – London increased for the sixth consecutive session. Futures for delivery in January 2022 increased by 75 USD, to 2,270 USD/ton and term for delivery in March 2022 increased by 53 USD, to 2,186 USD/ton, very strong increases. Trading volume above average. The inverse price structure widens the gap. London Robusta prices rose to near ten-year highs.

Similarly, the price of Arabica coffee on the ICE US floor – New York has the same upward trend. December spot futures increased by 5.55 cents to 208.10 cents/lb and March 2022 delivery also increased by 5.55 cents to 210.70 cents/lb, very strong gains. Trading volume remained very above average.

The price of green coffee beans in the Central Highlands provinces increased by 1,400 – 1,500 VND, to ranged in the range of 42,500 – 43,000 VND/kg.

Price of export Robusta coffee grade 2.5% black broken, standing at 2,050 USD/ton, FOB – HCM, with a deduction of about 200 – 220 USD/ton according to the January 2022 futures price in London.

The Reais fell 0.34%, the exchange rate fell to 1 USD = 5.5730 Reais as inflation concerns led to worse-than-expected market results and attention in today’s session (27/27). 10) with the betting market Copom Brasil will raise the basic interest rate of the Reais by 1.25 – 1.5%, from the current level of 6.5%/year.

Coffee futures prices continued to increase strongly with rumors of refusal of delivery of coffee growers in Brazil as well as rumors of importing Robusta coffee from Vietnam, even though the Deputy Minister of Agriculture of Brazil spoke out. acknowledge and affirm that the importation of coffee is inconsistent with applicable Brazilian law.

According to observers, the price of double-decker coffee continued to increase due to concerns about supply delays due to lack of empty containers and no space on ships as reported in previous reports. (Re-read yesterday’s newsletter October 26, 2021). The latest is a large export trader in Ho Chi Minh City, said that their first coffee shipment to Europe will leave the port at the end of November and with the fastest journey also takes more than 5 weeks.

The tropical depression is causing prolonged rain, causing the coffee harvest of the new crop in the Central Highlands and Southeast that has just been deployed to stall, while news about the covid-19 epidemic in this area is also available. signs of increase.

ANhan Van (giacaphe.com)

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