Robusta coffee prices on the London floor continue to adjust due to pressure from Vietnam’s new harvest…
At the end of the single trading session, Robusta coffee prices on the ICE Europe – London exchange returned to correction. The January delivery term decreased by 24 USD, to 2,491 USD/ton and the March delivery term decreased by 13 USD, to 2,426 USD/ton, significant decreases. Trading volume is very low below average.
Meanwhile, Arabica coffee prices on the ICE US – New York floor does not change, due to The market is closed for the US Thanksgiving holiday, no trading.
The price of green coffee in the Central Highlands provinces decreased by 300 – 400 VND, fluctuating in the range of 58,300 – 58,700 VND/kg.
The pressure on the Robusta – London floor increased when the seasonal weather calmed down again, helping farmers in the Central Highlands coffee region of Vietnam accelerate the harvest of new crops. London coffee futures prices continued to adjust from the beginning of the session after a report from the Foreign Agricultural Service (FAS) under the US Department of Agriculture (USDA) adjusted Vietnam’s output forecast to decrease by more than 12%. due to unfavorable weather and the planted area has been intercropped quite a lot, while the replanted areas in recent years have begun to yield high yields, contrary to the forecast of a decrease in output of only about 10% from domestic traders. and of the Vietnam Coffee and Cocoa Association (Vicofa).
FAS also forecasts that total output of Indonesia, the world’s third largest Robusta producer, will decrease by 18.14% compared to the previous 2022/2023 coffee season, down to 9.7 million bags. It is expected that Indonesia will prioritize raw coffee for the domestic industry, only for exporting about 5 million bags of coffee beans, down 35.02% compared to the previous crop year.
[ Các nước sản xuất cà phê hàng đầu thế giới ]The European Central Bank (ECB) has just released the minutes of last month’s meeting showing that they decided to maintain the Euro interest rate at 4%/year and assessed that although deflation has begun, it is still far from over. Inflation is about target, as the Eurozone economy remains weak and rising geopolitical tensions could cause energy and food costs to rise.
Data reported by ICE – London on November 23 showed that Robusta coffee inventory increased by 1,360 tons, or 3.47% compared to the previous day, to 40,510 tons (about 675,167 bags, 60 bags). kg) has contributed to promoting funds and speculation to promote liquidation.
English (giacaphe.com)
