Dryness in Brazil and concerns about supply delays have pushed markets back to an upward price trend…
At the end of the weekend trading session, Robusta coffee prices on the ICE Europe – London exchange reversed and recovered. March delivery futures increased by 65 USD, to 3,128 USD/ton and May delivery futures increased by 68 USD, to 2,967 USD/ton, quite strong increases. Trading volume is above average.
Similarly, the price of Arabica coffee on the ICE US – New York floor has the same recovery trend. March delivery futures increased by 5.20 cents, to 185.15 cents/lb and May delivery futures increased by 4.85 cents, to 181.85 cents/lb, strong increases. Trading volume is quite above average.
The price of green coffee in the Central Highlands provinces increased by 1,300 – 1,400 VND, fluctuating in the range of 71,800 – 72,500 VND/kg.
Coffee futures prices recovered strongly on both exchanges after Somar Met. Weather reports The main growing regions in southern Brazil remain dry due to rainfall just below the historical average. Combined with the January 19 ICE inventory report data, which continued to decline on both exchanges, especially ICE – Europe reaching a record low of 30,010 tons (about 500,167 bags) and ICE – US at 263,810 bags, approximately a 24-year low, in the context of limited shipping routes in both the Panama and Suez canals, making the market even more worried about supply delays. Meanwhile, the market also recorded information that farmers from two major producers in Southeast Asia are holding back their goods to wait for higher prices.
English (giacaphe.com)
