Risk aversion increased when major central banks in the world simultaneously tightened monetary policy due to excessive inflation, which had a negative impact on most markets…
Robusta London chart November 2022, week 36 (from September 5, 2022 to September 10, 2022)
For the whole week 36, the London market had 3 decreasing sessions and 2 increasing sessions. The price of Robusta coffee for November delivery increased by all 41 USD, or 1.84%, to 2,264 USD/ton, and for delivery in January 2023 increased by all 38 USD, or 1.72%, to 2,253 USD/ton, very significant increases. Trading volume below average.
On the contrary, the New York market had 2 decreasing sessions and 2 gaining sessions at the beginning and the end of the week. The price of Arabica coffee for December delivery fell all of 0.30 cents, or 0.13%, to 228.50 cents/lb and for March delivery, it increased by all of 0.55 cents, or up. 0.25%, to 222.65 cents/lb, slight gains/losses. Trading volume above average.
The price of green coffee beans in the Central Highlands market increased by 700-800 VND, up to a range of 48,300 – 48,800 VND/kg.
Highlights of the week are Trade Report August of the International Coffee Organization (ICO). According to the report, global coffee exports in July only reached 10.12 million bags, down 6.56% year-on-year. Cumulative global coffee exports in the first 10 months of the current coffee crop year 2021/2022 totaled only 108.8 million bags, down 0.3% compared to the same period in coffee crop year before 2020/2021. In the 12 months ending July 2022, exports of Arabica coffee reached 80.25 million bags, down 3.3%, while Robusta exports reached 48.90 million bags, up 4.22% over the same period. previous period.
The Arabica inventory report managed by ICE – New York continued to show signs of improvement, while the Robusta inventory managed by ICE – London continued to decline because investors were not interested in bringing it to the market to register for sale. auction because the outside market has a more attractive price.
Vietnam Customs, the world’s largest producer of Robusta coffee, reported that coffee exports in August reached 112,531 tons (equivalent to 1,875,517 bags, 60 kg bags), down 1.16% from the previous month. and down 4.0% over the same period last year. However, cumulative exports in the first 8 months of calendar year 2022 have increased by 15.31% compared to the export results of the first 8 months of 2021. This is information that has contributed to a negative impact on the Robusta – London market during the week. via.
Information The European Central Bank (ECB) has just decided to raise the basic interest rate for the Euro by 0.75% to join with many other major central banks in promoting monetary tightening to prevent excessive inflation and recession. The world economy, while emerging currencies continue to depreciate as USDX rises to a 20-year high, also makes investors afraid of increased risks.
Cooxupéthe largest coffee cooperative in Brazil and the world, has expected the cooperative’s 2022/2023 Arabica coffee crop to reach only 4.0 million bags, down 11% year-on-year due to dry weather causing drought. output decreased.
English (giacaphe.com)
