The national blockade is a drastic move by the UK to prevent the outbreak of the new disease covid-19, but it worries speculators because Europe’s leading economy is paralyzed …
Robusta London Tuesday / 2021 chart session on January 4, 2021
KAt the end of the first session of the week, Robusta coffee prices on ICE Europe – London reversed and dropped. Futures for delivery in March decreased 14 USD, down to 1,372 USD / ton and futures for May delivery decreased 13 USD, to 1,382 USD / ton, the significant decreases. Trading volume in average.
Similarly, Arabica coffee prices on the ICE US – New York floor followed a downtrend. Futures for delivery in March decreased 2.1 cents, down 126.15 cents / lb and futures for May delivery fell 2.05 cents, to 128.1 cents / lb, the decreases are also very significant. Trading volume above average.
The price of coffee beans in the Central Highlands provinces decreased by 200-300 VND, down fluctuating in the frame of 32,400 – 32,900 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,495 USD / ton, FOB – HCM, with the difference plus 80-100 USD / ton in term of May in London.
Copper Reais fell 0.67%, to $ 1 = 5,2240 Reais in fear of a new variant of the conoravirus spreading while immunization campaigns are just beginning.
Coffee prices fell again because Brazilians still sold aggressively when the Reais exchange rate rose again and the news that the main Arabica coffee growing areas in the Southeast had been raining. Meanwhile, the UK ordered a national blockade against the new covid-19 variant, which could last until mid-February, which would paralyze Europe’s leading economy. This drastic move by the UK has raised concerns that could entice many countries with the outbreak of covid-19, which will cause many economies to stagnate, and speculative capital flows quickly. The temporary shelters caused the price of gold to skyrocket and agricultural commodities to fall.
Data reported by the Indonesian trade agency on Sumatra island showed that Robusta coffee exports in December reached 255,000 bags, down 10.85% year-on-year, bringing exports in the first three months of the current coffee season. at 2020/2021 to a total of 967,410 bags, down 11.77% over the same period last crop year. It is forecasted that coffee exports from Indonesia in the coming months will continue to decline due to the pre-grain period. The world’s third largest Robusta coffee producer will enter a new crop around the end of March.
New crop Robusta coffee from Vietnam is present at the export port, but the volume is not much because farmers are not interested in selling at low prices.
English (giacaphe.com)
