USDA forecasts Vietnam’s coffee output in the 2020/2021 crop year will be about 29 million bags …
Robusta London T1 / 2021 chart session on 11/23/2020
KAt the end of the first session of the week, Robusta coffee prices on ICE Europe – London dropped for the fifth consecutive session. Futures for delivery in January decreased by 8 USD, down to 1,378 USD / ton and futures for delivery in March also dropped by 8 USD, to 1,387 USD / ton, the slight decrease. Trading volume below average.
Similarly, Arabica coffee prices on the ICE US – New York floor followed a downtrend. Futures for delivery in March decreased by 1 cent, down 117.05 cents / lb and futures for May delivery also decreased by 1 cent, to 118.95 cents / lb, the declines in design. Trading volume is at medium level.
The price of green coffee in the Central Highlands provinces decreased by 100-200 VND, down fluctuating in the frame of 32,800 – 33,200 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,487 USD / ton, FOB – HCM, with the difference plus 80-100 USD / ton in term of March in London.
Reais copper plummeted 0.89%, to a standstill at $ 1 = 5,4360 Reais due to general weakening of emerging-country currencies and covid-19 vaccine optimism continuing to push US stocks strong. up, even though USDX is still under pressure of uncertainty over the new funding package that has not been approved by the US Congress.
Prices for coffee on both exchanges declined due to short-term profit-taking and lack of new speculation. While the market is also cautious before the latest USDA adjustment report on production and exports of key countries.
According to the USDA report, Vietnam’s coffee output in the 2020/2021 crop is adjusted down to 29 million bags due to unfavorable weather and exports in this season are only about 26.65 million bags due to competition.
According to data reported by Vietnam Customs, coffee exports in the 2019/2020 crop year, mainly Robusta coffee, totaled 27.3 million bags, a decrease of about 1 million bags compared to the crop’s exports. coffee 2018/2019 earlier.
English (giacaphe.com)
