The markets maintained the inverse price structure at a higher level as the inventory reports at the two exchanges continued to decline…
Robusta London chart January 1, 2022, week 47 (November 29, 2021 – December 4, 2021)
For the whole week 48, the London market had 4 gaining sessions and 1 decreasing session at the beginning of the week. The price of Robusta coffee for January delivery increased by all of $78, or 3.38%, to $2,386/ton, and for March delivery increased by all of $61, or 2.73%, to $2,298. /ton , strong increases. Trading volume above average.
Similarly, the New York market had 2 decreasing sessions and 3 increasing sessions in a row. The price of Arabica coffee for March delivery increased all of 0.40 cents, or 0.16%, to 243.35 cents/lb, and for May delivery, all rose by 0.25 cents, or 0. 10%, to 242.40 cents/lb, slight gains. Trading volume maintained quite above average.
The price of green coffee beans in the Central Highlands market increased by 300-400 VND, fluctuated in the range of 42,600 – 43,000 VND/kg.
Concerns about supply shortage continued to push up coffee futures prices. However, the increase on the London Robusta floor was also supported by the information that rain and floods hindered the harvest in Vietnam, causing the new crop to be slow to market, prompting “speculative bulls” to increase buying, despite The net buying volume is already very high.
Indonesian Government trade data shows that Robusta coffee exports in November only reached 146,857 bags, down 70.80% year-on-year, bringing exports in the first two months of the new coffee year 2021/2022 to reach a total of 352,684 bags, down 61.93% over the same period last year.
Ivory Coast, the leading producer of Robusta coffee in West Africa, reported coffee exports in October of only 20,067 bags, a decrease of 74.64% year-on-year and, therefore, cumulative exports. coffee in the first 10 months of 2021 totaled 450,300 bags, down 55.12% over the same period last year.
The Brazilian government reported green coffee exports in November at 2,918,400 bags, down 36.52% year-on-year, of a bumper crop estimated to hit a record 72 million bags in the coffee season. coffee 2020/2021. The drop is attributed to Covid-related logistical restrictions and also to a recent cyclical drop in harvests. “two years one” so the export performance is also 11.39% lower than the same period in 2019.
Meanwhile, the price of Arabica coffee had the same upward trend for the whole week, but the gain on the New York Stock Exchange was still cautious, even though the information of the new variant Omicron caused temporary panic and excessive inflation led to a recession. predict that the Fed will raise the basic USD interest rate sooner than expected.
As of Monday, November 29, inventories of Robusta coffee, which are certified and monitored by the London floor, have decreased by 2,120 tons, or 1.94% decrease from a week earlier, to 106,920 registered. tons (about 1,782,000 bags, 60 kg bags).
English (giacaphe.com)
