The market waits for interest rate decisions from the Fed – US and Copom – Brazil following the Central Bank of Japan (BOJ) raising interest rates for the first time in 17 years, promising many strong fluctuations…
At the end of the trading session, Robusta coffee prices on ICE Europe – London maintained an upward trend. Futures for delivery in May increased by 11 USD, to 3,354 USD/ton and futures for delivery in July increased by 15 USD, to 3,260 USD/ton, slight increases. Trading volume is above average.
Similarly, the price of Arabica coffee on the ICE US – New York floor has the same increasing trend. May delivery futures increased 1.30 cents, to 183.05 cents/lb and July delivery futures increased 1.20 cents, to 181.80 cents/lb, slight increases. Trading volume is very high above average.
The price of green coffee in the Central Highlands provinces increased by 100 – 200 VND, fluctuating in the range of 93,600 – 94,200 VND/kg.
Even though it plunged at the beginning of the session, world coffee futures prices recovered at the end of the session due to support from Vietnamese supply when it was reported that coffee regions in the Central Highlands were suffering from severe drought. threatening Robusta coffee output in the 2024/2025 crop year and the information that the Central Bank of Japan (BOJ) officially raised interest rates after 17 years of unchanged and applied negative interest rates since 2016 in contrast to the world to create pressure. deflation.
According to Barchart, coffee prices plummeted when updated information showed that the very limited rainfall in Brazil last week caused short-selling, while strong replenishment of ICE inventory report data weighed on weighs up the price. The Reais currency strengthened against the USD when the Central Bank of Brazil (BC) considered cutting interest rates by 0.5% this week and the market expected the Fed – US to be tougher with its stance on interest rate cuts at the meeting. Operating policy 2 days from today.
Data reported by ICE – Europe yesterday, Tuesday March 19, showed that the Robusta coffee inventory monitored by the London exchange increased by 520 tons, or an increase of 1.86% compared to the previous day, to registration. at 28,520 tons (about 475,333 bags, 60kg bags), has put negative pressure on coffee futures prices.
English (giacaphe.com)
