The world coffee futures price returned to mixed news when there was news that Brazil had had a lot of rain and that Vietnam’s exports fell …
Robusta London charters March 2021 session on December 21, 2020
KAt the end of the first session of the week, Robusta coffee prices on ICE Europe – London continued to adjust. January spot futures decreased by 1 USD, down to 1,361 USD / ton while the March delivery period adjusted to increase by 3 USD, to 1,383 USD / ton and for the May delivery period also increased by 3 USD, to 1,391 USD / ton. , slight increases / decreases. Trading volume above average.
In contrast, Arabica coffee prices on the ICE US – New York floor continued to decline. Futures for delivery in March decreased by 0.95 cents / lb, down to 124.3 cents / lb and for May futures decreased by 0.9 cents, to 126.2 cents / lb, the significant reductions. Trading volume in average.
The price of coffee beans in the Central Highlands provinces increased from 0 to 100 VND, up fluctuating in the frame of 32,700 – 33,100 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,463 USD / ton, FOB – HCM, with a difference plus 60-80 USD / ton in term of March in London.
Reais copper fell another 0.76%, to $ 1 = 5,1230 Reais due to a negative reaction to the new variant of the coronavirus that spread rapidly across the UK. However, the market is still positive as the European Medicines Agency (EMA) has approved the new vaccines of Pfizer and BioNTech production. This is a condition to help the European Union (EU) start the vaccination process in the coming days.
Arabica coffee prices continued to weaken as major growing regions in southeastern Brazil reported significant rainfall, such as rain in Minas Gerais which was up to 175% higher than the average. Besides the weak support of Reais copper, which stimulated farmers to sell out.
Meanwhile, the inventory of Arabica certified coffee by ICE has risen to more than 1.37 million bags, from a 20-year low announced earlier in October of 1.09 million bags.
In contrast, London Robusta coffee prices adjusted to increase as reported exports from Vietnam continued to slow down due to the sharp increase in shipping rates and some import ports in Europe announced to suspend arrival due to epidemic. The disease broke out again.
However, world coffee prices still fluctuate at low levels when the negative impact of the covid-19 epidemic on the global economy in the first half of the new year 2021 is very heavy.
According to data reported by Vietnam Customs, coffee exports in the first half of December only reached 40,800 tons (equivalent to 680,000 bags), continuing to maintain export volumes at a 3-year low.
English (giacaphe.com)
