The coffee futures markets continued the trend of the previous session of the previous week as the basic news still supported…
Robusta chart London T11/2021 session on September 20, 2021
At the end of the first session of the week, the price of Robusta coffee on ICE Europe – London adjusted up. November spot term increased by 1 USD, to 2,152 USD/ton and term for delivery in January 2022 increased by 2 USD, to 2,123 USD/ton, slight increases. Trading volume remain below average.
In contrast, the price of Arabica coffee on the ICE US floor – New York continued to decline. The December spot futures fell another 3.80 cents to 182.60 cents/lb and the March 2022 delivery also fell another 3.80 cents to 185.40 cents/lb, significant declines. Trading volume on average.
The price of green coffee beans in the Central Highlands provinces remained unchanged, still fluctuating in the range of 41,000 – 41,700 VND/kg.
Price of export Robusta coffee grade 2.5% black broken, standing at 1,973 USD/ton, FOB – HCM, with a deduction of 130 – 150 USD/ton according to the January 2022 futures price in London.
The Reais fell 0.81%, the exchange rate fell to 1 USD = 5,3320 Reais due to fears that the collapse of Evergrande, a giant Chinese construction company, will cause a serious global crisis. similar to the Lehman Brothers bank incident in New York in 2008, leaving most of the world’s stock exchanges covered in red.
Arabica coffee prices continue to decline as the weather forecast in the Brazilian coffee belt will have more rain this week and rainfall will be abundant in early October, ending drought concerns, even though the Centers for Disease Control and Prevention According to the National Weather Service’s Weather Service, there will be about 70-80% chance of La Nina appearance in the last quarter of this year.
Robusta coffee prices continue their upward momentum, setting new highs. However, before the pullback from the New York Stock Exchange and especially the report of increased exports from the leading African Robusta producer, the London exchange shed what it gained in the session to return to standing above the closing level of the previous session. there.
According to a report by the Uganda Coffee Development Authority (UCDA), exports in August reached 700,990 bags, up 34.89% year-on-year, of which Robusta exports increased 38.99% and Arabica coffee exports increased by 4.44%, bringing exports in the first 11 months of the current crop year 2020/2021 to a total of 5.09 million bags of coffee of all kinds, up 21.73% over the same period of the current crop year. prior to.
English (giacaphe.com)
