May Arabica coffee trading on Tuesday closed up 5.95 cents/pound and Robusta coffee closed up jubilantly, to $184/ton.
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The reason prices in both markets increased sharply when Arabica coffee reached its highest level in the past 4 weeks and Robusta coffee reached a new record high was due to concerns that recent heavy rains in Brazilian growing areas, may have caused damage to coffee plants.
In the context of the scarce supply of Robusta coffee from Vietnam, coffee prices are in a period of very unpredictable fluctuations, beyond the experiences seen in this market.
The latest long position report from Traders from the Robusta coffee market shows that Fund Managers have slightly increased their net long positions by 1.33% as of Tuesday, March 26, 2019. 2024. Thus, this component continues to hold a buying position and has not seen any move to sell the purchased goods. This is an important report, which often moves the market, but usually the position report will reach us about a week late.
Inventories of certified graded Arabica coffee in the Arabica market were said to be unchanged yesterday, reaching an inventory level of 595,209 bags.
The price difference between Robusta and Arabica returned with the gap narrowing to about 31 cents/pound after Robusta’s strong increase yesterday.
Technically, the Arabica market price is still very strong, it is likely that this market will continue to increase, to return to the high mark reached in mid-December 2023 of 200.75 cents.
This morning, through our survey, some regions in the Central Highlands are offering domestic purchase prices as follows:
- Dak Lak: 101,700 – 102,000
- KonTum: 101,000 – 101,500
- Gia Lai: 101,000 – 102,000
- Dak Nong: 101,300 – 102,100
- Lam Dong: 101,000 – 101,300
Kinh Vu (Giacaphe.com)
