The expectation that the European – American consumer markets will reopen thanks to the easing of the pandemic will support the recovery of global coffee consumption demand…
London chart March 2022, week 05 (January 31, 2022 – February 5, 2022)
For the whole week of 5, the London market had 3 increasing sessions and 2 decreasing sessions. The price of Robusta coffee for spot delivery in March increased by all 36 USD, or 1.64%, to 2,229 USD/ton and for May delivery increased by all 29 USD, or 1.33%, to 2,213 USD. /ton, the increases are very significant. Trading volume on average.
Similarly, the New York market also had 3 increasing sessions and 2 decreasing sessions. The price of Arabica coffee for March delivery increased all of 5.95 cents, or 2.52 percent, to 241.85 cents/lb and for May delivery, all 6 cents increased, or 2.55 percent. , to 242.45 cents/lb, fairly strong gains. Trading volume very high above normal.
The price of green coffee beans in the Central Highlands market increased by 500-600 VND, fluctuated in the range of 39,900 – 40,500 VND/kg.
Coffee futures prices regained momentum as the inventory report by the two exchanges continued to decline. New York’s Arabica inventories fell to a 15-month low, while London’s Robusta inventories only met Europe’s consumption demand for less than a week.
The main impact on most markets this week was the strengthening of USDX on speculation that the Fed will cut its economic stimulus measures and raise the key interest rate in USD this year by more than 3 times than predicted. before. Meanwhile, the reais continued to recover, which prevented Brazilians from reselling their staple agricultural goods and, therefore, “speculative bull” returned to liquidate their net positions on the coffee futures floor, despite the concern of short-term supply shortage. While the Vietnamese market is on Tet holiday, trade in London this week is in the hands of financial funds and speculators.
Brazil’s trade agency reported that coffee exports in January 2022 reached only 2,968,217 bags, down 19.77% year-on-year but 8.99% higher than January 2019 is a year the lowest export volume in the past 5 years.
As of Monday, January 31, the inventory of Robusta coffee certified and tracked by the London floor has decreased by 1,210 tons, or 1.27% compared to a week earlier, to registered at 93,770 tons. equivalent to 1,562,833 bags, 60 kg bags).
English (giacaphe.com)
