Concerned that the rising epidemic will slow global coffee consumption, but the market still shows concern about the shortage of supply from the leading producer, currently facing a serious fall in Arabica crop of the year. now on…
Robusta London chart May / 2021 week 16 (April 19, 2021 – April 24, 2021)
For the whole week of 16, London market had 4 gaining sessions and 1 decreasing session. Robusta coffee futures for delivery in May increased by $ 33, or up 2.44%, to $ 1,387 / ton and for July delivery increased by $ 36, or up 2.61%, to $ 1,416. / ton, strong increases. Trading volume quite high above average.
Similarly, New York market also had 4 gaining sessions and 1 decreasing session. Arabica coffee futures for immediate delivery in July increased all 7.3 cents, or 5.56%, to 138.5 cents / lb and futures for July delivery increased all 7.25 cents, ie increased by 5, 44%, to 140.4 cents / lb, very strong gains. Trading volume very high above average.
The price of coffee beans in the Central Highlands market increased from 600 to 700 VND, up to fluctuating in the frame of 32,500 – 33,200 VND / kg.
Two-floor coffee prices continued to rise when worries about the decline in Brazil’s new supply became the focus of the market’s attention at the beginning of this year’s harvest. Traditionally, Brazilian farmers usually start the harvest of Conilon Robusta coffee in mid-April and Arabica coffee in early June, the new crop will be delivered to the export terminals from August.
Cecafé – Brasil reported that coffee exports from April will gradually decrease due to strong exports since the beginning of the new coffee crop 2020/2021, estimated at 32.61 million bags of coffee beans of all kinds. delivery to consumer markets, excluding roasted and converted instant coffee,.
The Uganda Coffee Development Agency (UCDA) reports cumulative exports of coffee in the first 6 months of the current crop year 2020/2021 totaling 2.86 million bags, an increase of 11.24% over the same period in the previous crop year. . Uganda is the second largest coffee producer and exporter in Africa with an annual output of more than 5 million bags, mainly high quality Robusta coffee, very popular in the European and American markets.
According to observers, not only the output but also the current weather in the coffee growing areas in Brazil is closely monitored by the market because of the impact on the quality of the new crop when there is a report. lack of rain.
The latest Trader Commitment Report (CFTC) from New York’s Arabica coffee market shows that as of Tuesday April 13, the non-commercial speculation division increased its net buying position by 64, 99%, registered net buying in 11,317 lots, equivalent to 3,208,319 bags. This net long position is likely to have increased even more after a period of mostly positive trade since then.
The latest CFTC report from Robusta coffee market in London shows that, by the same reporting period, short-term speculation of Money Management Funds increased their net selling position by 667.55% to register at 4,068 lots, equivalent to 678,000 bags. This net selling position is more likely to drop again after a more positive trading period since then.
Inventory of Robusta coffee certified and tracked by the London floor, as of Monday 19/04 increased 710 tons, or 0.48% higher than a week earlier, to register at 147,330 tons ( equivalent to 2,455,500 bags, 60 kg bags).
English (giacaphe.com)
