The price of coffee futures continues to be mixed when supply – demand is the fundamental factor supporting positively…
Robusta London chart March 2022, week 01 (from January 3, 2022 to January 8, 2022)
For the whole first week of 2022, the London market had 3 decreasing sessions and 1 increasing session. The price of Robusta coffee for spot delivery in March fell by all 54 USD, or 2.24%, to 2,316 USD/ton and for May delivery fell all 44 USD, or 1.90 %, to 2.2. 66 USD/ton, the reductions are very significant. Trading volume below average.
On the contrary, the New York market had 4 gaining sessions and 1 decreasing session. The price of Arabica coffee for delivery in March increased all 12.35 cents, or 5.46%, to 238.45 cents/lb and for May delivery, it increased all 12.30 cents, or 5. 44%, to 238.30 cents/lb, very strong gains. Trading volume on normal.
The price of green coffee beans in the Central Highlands market decreased by 900 – 1,000 VND, to range from 42,300 to 41,700 VND/kg.
Arabica coffee prices reversed to rise again due to concerns about supply shortage. The International Coffee Organization’s (ICO) November Trade Report, shows that global exports this month fell 12.4% year-on-year to 9.246 million bags. Besides, there is also a report from Secex – Brazil that exports in December fell sharply by 17.2% over the same period. In general, the cause of the decline in coffee exports is mainly due to the limited logistics sector and the still stagnant global freight movement at major ports that cannot be overcome at least until mid-2022. .
Before that, there was remarkable information that an international trader had transported nearly 50,000 tons (about 800,000 bags) of Robusta coffee from Indonesia to Europe in the form of: “no containers” which has been abandoned for more than 20 years and similarly, a very substantial consignment by the leading Brazilian Cooperative Cooxupé is delivered through the world’s largest consumer market by the same shipping method. Meanwhile, the first shipment of Robusta coffee after social distancing from Vietnam to Europe at the end of November has yet to arrive at the port of arrival.
Although most countries have reacted strongly to the appearance of the Omicron variant, the general assessment is that it is not as harmful as initially thought because of the rapid spread and the 3rd dose vaccination. will prevent quite effectively.
Information about heavy rains caused flooding and landslides at several points on highways of the two main coffee growing states Minas Gerais and São Paulo in Brazil.
Harvesting crops in the Central Highlands is in the final stage. It is expected that in the second half of January 2022, there will be Vietnamese new crop Robusta products that will enter the market.
English (giacaphe.com)
