Robusta coffee futures prices have set an all-time high due to concerns about supply delays due to the closure of the Europe-Asia vital maritime route through the Suez Canal…
At the end of the trading session, Robusta coffee prices on ICE Europe – London had a mixed trend. The January delivery term increased by 47 USD, to 3,007 USD/ton, while the distant delivery terms all decreased. Specifically, March futures decreased by 62 USD, to 2,870 USD/ton and May futures decreased by 67 USD, to 2,793 USD/ton, sharp drops. Trading volume remains well above average.
On the contrary, the price of Arabica coffee on ICE US – New York floor reversed and decreased. March delivery futures decreased by 11.80 cents, to 190.60 cents/lb and May delivery futures decreased by 11.45 cents, to 188.15 cents/lb, extremely strong drops. Trading volume remains well above average.
The price of green coffee in the Central Highlands provinces decreased by 1,300 – 1,400 VND, fluctuating in the range of 67,300 – 68,000 VND/kg. Fresh coffee prices trade around 15,000 VND/kg.
Robusta coffee futures prices, after reaching an all-time high ($3,022/ton), returned to close at a record high due to support from the ICE inventory report yesterday on Thursday, December 20. dropped sharply to 34,170 tons, the lowest level since early September 2023. Adding to the support is a preliminary data report from the General Department of Vietnam Customs showing that coffee exports in the first 11.5 months of this year decreased by 8.41% over the same period last year and online information. The Asia-Europe maritime transport route through the Suez Canal was attacked by Houthi terrorists, making the demand for immediate delivery even more stressful.
Meanwhile, Arabica coffee futures prices, due to lack of support to maintain the high level of the previous session, turned down sharply with information from TV channel Climatempo saying that the main coffee regions in southern Brazil will have rain. This week and the forecast of widespread rain later this month, has caused funds and speculators to rush to liquidate net positions to avoid risks due to the long Christmas holiday.
An analysis by hEDGEpoint shows that Brazil exported 4.3 million bags of coffee in November, including 3.2 million bags of Arabica and 856 thousand bags of Conilon due to abundant supply from the 2023/2024 harvest and low prices. even more competitive.
English (giacaphe.com)
