World coffee futures prices appear to be stuck at a low price bracket as ICOs continue to point out oversupply, while demand remains limited as disease spread and vaccine production is not met. timely…
Robusta London Tuesday / 2021 chart session on February 9, 2021
Ending the session, Robusta coffee prices on the ICE Europe – London floor rebounded. Futures for delivery in March increased 7 USD, to 1,342 USD / ton and futures for May delivery increased 9 USD, to 1,365 USD / ton. Trading volume 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 1.15 cents, down to 122.95 cents / lb and for May futures decreased by 1.25 cents to 125 cents / lb, significant reductions. Trading volume maintained very cpond above average.
The price of coffee beans in the Central Highlands provinces increased by 100 VND, up fluctuating in the frame 31,500 – 32,100 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,445 USD / ton, FOB – HCM, with a difference plus 70-80 USD / ton in term of May in London.
Reais copper fell slightly 0.18%, to $ 1 = 5,3820 Reais due to risk concerns about budget spending when the President of Brazil declared ready to finance emergency disease and after the Central Bank (BC) ) hold two foreign exchange auctions.
Coffee prices on the two world futures exchanges showed mixed trends, as reported in yesterday’s news (reread the newsletter on February 9, 2021).
Robusta coffee prices in London returned to the recovery trend after the report showed that Vietnam’s exports in January 2021 decreased by more than 10.6% over the same period last year. In particular, the world’s leading Robusta producer will have a one-week holiday to celebrate the Lunar New Year in the New Year, while it has been reported that the recent outbreak of covid-19 variant has caused Some localities in the Central Highlands coffee area have to step up measures of social distance.
In contrast, New York’s Arabica coffee prices continued to decline as the southern major growing regions had experienced favorable rains and the weakening Reais copper again encouraged the Brazilian to boost their sales.
According to the latest World Economic Outlook Report of the International Monetary Fund (IMF), the global economy will decline 3.5% in 2020, but will recover 5.1% in the US and 4.2% in the Eurozone this year. This information will contribute positively to the price trend in the medium and long term.
English (giacaphe.com)
