Arabica coffee prices weakened again because Brazil had the first rain of the season, while Robusta coffee prices skyrocketed, setting a new 4-year high to attract goods to London and partially offset the cost of sea freight…
Robusta chart London T11/2021 session on September 17, 2021
Ending the last session of the week, Robusta coffee prices on ICE Europe – London increased for the fifth consecutive session. The November spot term increased by $44, to $2,151/ton and the January 2022 delivery term increased by $31, to $2,121/ton, strong increases. Trading volume remained very low below average. Robusta coffee prices set a new 4-year high.
On the contrary, the price of Arabica coffee on the ICE US floor – New York reversed to decrease. December spot futures fell 1.75 cents to 186.40 cents/lb and March 2022 futures fell 1.70 cents to 189.20 cents/lb, significant declines. Trading volume above average.
The price of green coffee beans in the Central Highlands provinces increased by 400-500 VND, to ranged in the range of 41,000 – 41,700 VND/kg.
Price of export Robusta coffee grade 2.5% black broken, standing at 1,971 USD/ton, FOB – HCM, with a deduction of 130 – 150 USD/ton according to the January 2022 futures price in London.
The reais fell 0.43%, the exchange rate fell to 1 USD = 5.2890 Reais due to the pessimism in export trade with a leading partner and the signing of a decree by the President of Brazil to raise the delivery tax rate. financial translation (IOF).
The falling reais encouraged Brazilian farmers to ramp up coffee sales, while the spring rainy season has also begun on the southern coffee belt, helping to support New York futures prices falling again.
Meanwhile, the price of Robusta coffee continued to rise, setting a new 4-year high, to encourage traders to bring goods to the London floor to participate in auctions, while the island price structure in the near futures was relaxed. widen the distance to increase the attraction.
According to observers, the differential price (Dif) for Vietnam’s Robusta coffee has been pushed to an extremely high level, rarely seen in the short term to help support export sales.
English (giacaphe.com)
