The London market widens the island price gap as concerns about supply delays from top Robusta producer remain intact…
Robusta chart London T11/2021 session on September 21, 2021
At the end of the session, the price of Robusta coffee on ICE Europe – London tended to be mixed. November spot futures increased by $8 to $2,160/ton, while futures all fell. Specifically, the delivery term in January 2022 decreased by 1 USD, down to 2,122 USD/ton and the term for delivery in March 2022 decreased by 2 USD, down to 2,057 USD/ton, a slight decrease. Trading volume very below average.
On the contrary, the price of Arabica coffee on the ICE US floor – New York reversed to increase. December spot futures rose 0.75 cents to 183.35 cents/lb and March 2022 futures also gained 0.75 cents to 186.15 cents/lb, slight gains. Trading volume remain average.
The price of green coffee beans in the Central Highlands provinces increased by 100 dong, to range from 41,100 to 41,800 dong/kg.
Price of exported Robusta coffee grade 2.5% black broken, stood at 1,972 USD/ton, FOB – HCM, with a deduction of 130 – 150 USD/ton according to the January 2022 futures price in London.
The reais rose 0.86%, the rate rose to 1 USD = 5.2860 Reais as optimism returned after world stocks recovered with the Chinese government’s resolution on the Evergrande issue, while the market Financial markets are looking forward to the policy meeting of Copom – Brazil and Fed – US. However, the majority of investors believe that the downtrend will still take place in the short term.
Arabica coffee prices adjusted up after a series of consecutive declines because in the Brazilian coffee belt appeared the first rains of the season, helping to alleviate the concern of drought.
On the contrary, the report that the inventory of Robusta coffee at the floor continued to decline, causing the London market to maintain the island price structure to attract goods and partially compensate for the currently sky-high sea freight rates.
According to data reported by Vietnam Customs, coffee exports in the first half of September 2021 reached 51,018 tons (equivalent to 850,000 bags), bringing the export of the first 8.5 months of this year to a total of 1,034,022 tons. about 18.90 million bags), down 5.12% over the same period last year.
English (giacaphe.com)
