Coffee prices weaken again (December 23, 2020)

World coffee futures prices continued to decline due to concerns about the decline in consumption due to increased disease …

Robusta London chart on Tuesday / 2021 session on December 22, 2020

KAt the end of the session, Robusta coffee prices on ICE Europe – London returned to weaken. January spot futures dropped another 3 USD, down to 1,358 USD / ton and futures delivered in March dropped 4 USD, to 1,379 USD / ton, the slight decrease. Trading volume in average.

Similarly, Arabica coffee prices on the ICE US – New York floor also decreased. Futures for delivery in March decreased by 0.1 cent / lb, down to 124.2 cents / lb and futures for May delivery decreased by 0.05 cents, to 126.15 cents / lb, the decline extremely slightly. Trading volume in average.

The price of coffee beans in the Central Highlands provinces decreased by 100 VND, down fluctuating in the frame of 32,600 – 33,000 VND / kg.

Export Robusta coffee price type 2, 5% broken black, stood at 1,459 USD / ton, FOB – HCM, with a difference plus 60-80 USD / ton in term of March in London.

Reais copper fell another 0.78%, to stand at $ 1 = 5,1630 Reais due to investors’ caution in the context of instability from the emergence of a new coronavirus variant that caused USD to add value in the basket. currency. In addition, the uncertainty of the US economy also made most investors concerned about risks turned to hidden assets, overshadowing the new financing package approved by the US Congress.

Coffee prices on both futures continued to adjust to a weak trend due to concerns about a decline in global consumption amid rising epidemics, many countries had to adopt strong social measures. stronger.

The decline in trade has caused shipping lines to announce more freight charges. Many international traders are concerned because they think that it will make it more difficult for consumers because capital needs have decreased during the epidemic season.

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