Although the world economy is slow to recover because the epidemic is persistent, the ICO still predicts a 1.3% increase in world consumption in the current coffee season …
Robusta London Tuesday / 2021 chart session on February 10, 2021
Ending the session, Robusta coffee prices on ICE Europe – London continued to recover. Futures for immediate delivery in March increased by 7 USD, to 1,349 USD / ton and futures for May delivery increased by 9 USD, to 1,374 USD / ton. Trading volume maintained on mmedium breast.
In contrast, Arabica coffee prices on the ICE US – New York floor continued to decline. Futures for delivery in March decreased by 1.85 cents to 121.10 cents / lb and for May futures also dropped by 1.85 cents, to 123.15 cents / lb, the decline is very significant. Trading volume in a rare “terrible” level.
The price of coffee beans in the Central Highlands provinces increased by 100-200 VND, up to fluctuating in the frame 31,700 – 32,200 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,454 USD / ton, FOB – HCM, with a difference plus 70-80 USD / ton in term of May in London.
Reais copper rose slightly 0.18%, up to 1 USD = 5,3720 Reais due to the adjustment of capital inflows of foreign investors and continued to show caution in budget spending. Meanwhile, USDX dropped again due to concerns about the new funding package “too big”, will make inflation rise out of control even if the Fed Chairman declares it is necessary to recover the US economy faster after the pandemic.
Coffee prices on the two world term futures continued to show mixed trends. There has been an analysis that investors are making a profit in buying and selling at premium prices.
Robusta coffee prices continue to recover when it is predicted that Vietnam’s exports in February will plummet not only because of a few days but also a rather long holiday to celebrate the traditional New Year of the New Year.
According to the Coffee Exporters Association (Cecafé) in Brazil, coffee bean exports in January 2021 only reached 2.89 million bags, down 7.88% over the same period last year, of which Arabica coffee accounted for 2.65 million bags, down 9.28% and Conilon Robusta coffee accounted for 241,534 bags, up 7.91% over the same period last year. However, the cumulative exports of coffee beans in the first 7 months of the current coffee season 2020/2021 total 25.36 million bags, up 23.59% over the same period of the previous coffee crop. This is a very encouraging result after the 2020 harvest reached its highest record in history, according to Conab, with 63.07 million including 48.77 million bags of Arabica and 14.31 million including Conilon Robusta.
English (giacaphe.com)
