Coffee futures prices on both world exchanges continue to adjust as more basic information supports…
At the end of the first trading session of the week, Robusta coffee prices on ICE Europe – London continued to adjust. Futures for delivery in May decreased by another 18 USD, to 3,279 USD/ton and futures for delivery in July decreased by another 15 USD, to 3,175 USD/ton, very significant reductions. Trading volume is below average.
Similarly, the price of Arabica coffee on the ICE US – New York floor has the same decreasing trend. May delivery futures decreased another 0.2 cents, to 185 cents/lb and July delivery futures decreased another 0.30 cents, to 183.15 cents/lb, slight decreases. Trading volume is quite above average.
Coffee prices today in the Central Highlands provinces decreased by 300 – 400 VND, fluctuating in the range of 90,200 – 91,100 VND/kg.
Coffee futures prices extended the correction from last weekend when it was forecast that the main coffee growing regions in Brazil had rain above the historical average last week, helping to ease concerns about drought before entering winter. this year.
The General Department of Vietnam Customs reported that coffee exports in February reached 160,584 tons (about 2,676,400 bags), down 32.6% over the previous month and down 19.73% over the same period last year. Accumulated coffee exports in the first 2 months of the calendar year 2024, Vietnam has exported a total of 398,819 tons, an increase of 16.39% over the same period last year.
The Coffee Exporters Association (Cecafé) in Brazil reported that coffee bean exports in February reached 3,626 million bags, up 48.9% over the same period last year, in the first 2 months of Arabica coffee exports. natural reached a total of 6,076 million bags, an increase of 35% over the same period and Conilon Robusta coffee exports totaled 1,031 million bags, an increase of 531.4% over the same period. This shows that the delay of ships carrying export coffee cannot prevent the flow of coffee from Brazil to major consumer markets in the world.
It is expected that commodity markets in general will continue to fluctuate strongly before the upcoming policy meeting at the end of April of the Fed – US with the belief that interest rates will be cut.
English (giacaphe.com)
