Coffee futures prices are currently at a 12-month high…
Robusta chart London T11/2021 session on September 16, 2021
At the end of the session, the price of Robusta coffee on ICE Europe – London continued to increase. The November spot term increased by 25 USD, to 2,107 USD/ton and the term for delivery in January 2022 increased by 22 USD, to 2,090 USD/ton, very significant increases. Trading volume remained very low below average.
Similarly, the price of Arabica coffee on the ICE US floor – New York has the same upward trend. December spot futures added 0.80 cents to 188.15 cents/lb and March 2022 futures added 0.75 cents to 190.90 cents/lb, significant gains. Trading volume remain average.
The price of green coffee beans in the Central Highlands provinces increased by 300-400 dong, up to range from 40,600 to 41,200 dong/kg.
Price of export Robusta coffee grade 2.5% black broken, stood at 1,970 USD/ton, FOB – HCM, with a deduction of 110 – 120 USD/ton according to the January 2022 futures price in London.
The reais fell by 0.57%, the exchange rate fell to 1 USD = 5,2660 Reais due to negative external influences, especially from the market of the leading partner. Meanwhile, USDX continued its uptrend as speculative capital inflows left many industrial raw materials markets in a negative trend because of the impact of the covid-19 epidemic.
Coffee futures prices continued to increase despite the large coffee growing regions in southern Brazil had the first rains of the season. Observers say that the increase is only partly to compensate for the high sea freight rates.
According to Bloomberg from São Paulo, about 3.5 million bags of coffee have not been delivered on board in the past few months because of current systemic shipping problems. This caused coffee exports in August to drop by 25.7% year-on-year, making August the worst export volume since 2017 and the current price the highest in 12 months. past, according to Nicolas Rueda, president of the Coffee Exporters Association (Cecafé) in Brazil.
English (giacaphe.com)
