The two futures coffee exchanges continued to decline as investors were concerned about high monetary interest rates…
Robusta chart London T11/2022 session on September 16, 2022
At the end of the last trading session of the week, Robusta coffee prices on the ICE Europe – London exchange continued to decline to the sixth session. The November spot term decreased by 24 USD, down to 2,202 USD/ton and the delivery term in January 2023 decreased by 25 USD to 2,189 USD/ton, significant reductions. Trading volume above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York has a downward trend. December spot futures fell 1.30 cents to 215.10 cents/lb and March 2023 futures fell 1.45 cents to 209.75 cents/lb, slight declines. Trading volume remain below average.
The price of green coffee beans in the Central Highlands provinces decreased by 300-400 VND, to range from 47,200 to 47,700 VND/kg.
The price of Robusta coffee suddenly plunged after the news that Brazil’s Conilon Robusta output this year reached a record level. “never happend”the result of many years of expanding new planting areas, with the ambition to compete for the position as Vietnam’s No. 1 Robusta producer.
USDX’s continued rally and continued decline in US stocks have put emerging currencies at a disadvantage. Most investors continue to stay out of the markets due to concerns about high monetary interest rates when reporting US economic indicators is likely to cause the Fed to tighten monetary policy strongly. Commodities fell all at once. It seems that the side effect of curbing inflation is inevitable, which has contributed to a further recession of the world economy.
The reais fell another 0.4% to 1 USD = 5,2600 R$, causing coffee futures prices to continue to fall deeply as Brazilians boosted sales of the new crop when the exchange rate is currently at a favorable level.
. ANhan Van (giacaphe.com)
