Coffee prices jumped on both exchanges when the market showed more concern about the output of Brazil in the upcoming crop …
Robusta London Tuesday / 2021 chart session on January 13, 2021
At the end of the session, Robusta coffee prices on ICE Europe – London reversed and increased. Futures for immediate delivery in March increased 30 USD, to 1,332 USD / ton and futures for May delivery increased 31 USD, to 1,343 USD / ton, the strong increases. Trading volume above average.
Similarly, Arabica coffee prices on the ICE US – New York floor are in the same upward trend. Futures for delivery in March increased 3.85 cents, to 125.25 cents / lb and futures for May delivery rose 3.8 cents, to 127.25 cents / lb, the increases were also very strong. Trading volume maintained very high above average.
The price of coffee beans in the Central Highlands provinces increased from 500 to 600 VND, up fluctuating in the frame 31,600 – 32,100 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,443 USD / ton, FOB – HCM, with the difference plus 80-100 USD / ton in term of May in London.
Reais copper rose slightly 0.20%, to $ 1 = 5.3110 Reais due to the exchange rate adjustment and the impact from the outside market through the US Congress vote on impeachment of President D. Trump in the context the epidemic of covid-19 is still increasing globally
Coffee prices rose not beyond speculation when the concern about Brazilian output in the upcoming crop started to be more concerned by the market. The latest is a report by the export group Montesanto Tavares in Brazil estimated that the new crop’s output will be about 52.9 million bags, down 23% from the previous season, of which the Arabica coffee crop decreased 37%. down to only 31.23 million bags and Robusta coffee increased 17% to 21.67 million bags.
Vietnam Customs reported that coffee exports in December reached only 139,046 tons, down sharply by 25.95% compared to the same period last year, bringing coffee exports for the whole year 2020, mainly Robusta coffee, reached total plus 1,565,280 tons (equivalent to 26.09 million bags), a decrease of 5.57% compared to the whole year exports in 2019. The reason for the decrease in exports is attributed to the slow harvest of the new crop due to storms and price Sea freight rates soared to delay deliveries.
However, inventories of Arabica coffee at ICE warehouses have risen sharply in recent days, to 1.52 million bags, continuing to recover from the 20-year low of 1.09 million bags reported. in early October 2020, mainly because Latin American wet-processed Arabica coffee producers are also harvesting new crops. Meanwhile, the producer Arabica natural is constantly boosting sales because the Reais copper is at a level that benefits farmers’ income.
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