The world coffee futures market is in the “weather trading” phase as winter arrives in the world’s leading coffee producer…
Robusta London chart September 2021, week 29 (July 19, 2021 – July 24, 2021)
For the whole week of 29, the London market had 4 increasing sessions and 1 decreasing session. The price of Robusta coffee for September delivery increased all by $132, or 7.47 percent, to $1,899 per ton, and for November delivery, it increased by all of $151, or 8.60 percent, to $1,907. /ton, the increases are very strong. Trading volume above average. London floor coffee prices maintain inverse structure and up stands at 3 and a half year high.
Meanwhile, the New York market had 3 increasing sessions and 2 decreasing sessions. The price of Arabica coffee for September delivery increased by all 27.65 cents, or 17.14%, to 189 cents/lb and December delivery increased by 27.85 cents, or 16.97%. , to 191.95 cents/lb, extremely strong gains. Trading volume very above average. New York prices stood at a six-and-a-half year high.
The price of green coffee beans in the Central Highlands market increased from 1,200 to 1,300 VND, to range from 37,400 to 38,000 VND/kg.
Double-floor coffee prices spiked as frost hit the coffee growing belt in southern Brazil. According to initial estimates, frost will result in a loss of about 1% of the currently harvested crop, and the yield potential of the 2022 crop will need more time to be quantified.
Meanwhile, the global outbreak of the new variant of covid-19 caused many markets to re-establish social distancing measures, combined with a slowdown in supply from many producing countries due to lack of shipping containers. and rising shipping rates also contributed to pushing up prices on the two futures exchanges.
The coffee market always reminds the period “business according to the weather”, regardless of winter in Brazil appears frost or not. The market continues to be cautious as there is still a full moon in August ahead.
The Brazilian Coffee Exporters Association (Cecafé) in Brazil reported that coffee bean exports for the 2020/2021 crop year totaled 41.63 million bags, an increase of more than 15% compared to the previous crop year, setting a record New export record of the world’s largest producer of natural Arabica coffee.
As of Monday, July 19, inventories of Robusta coffee certified by the London floor have decreased by 1,510 tons, or 1.02% from a week earlier, to register at 145,810 tons (equivalent to 2,430. 167 bags, 60 kg bags).
English (giacaphe.com)
