Update on coffee prices on December 3: Robusta prices plummeted
Coffee prices today on December 3 in the domestic market decreased by 500-700 VND / kg while Robusta coffee in London had the deepest drop in more than 3 months.
Update coffee prices on December 3 on the world market
Favorable weather returned to help farmers boost the harvest of the new crop and therefore, the selling pressure of the new crop was also stronger, causing the price of Robusta coffee futures in London to fall further.
Robusta London chart January 2021 session on December 2, 2020
Ending the session, Robusta coffee prices on ICE Europe – London dropped for the third consecutive session. January spot futures decreased by 40 USD, down to 1,343 USD / ton and futures for March delivery dropped by 24 USD, to 1,364 USD / ton, the decline was very strong. Trading volume is very high above average. Robusta coffee prices fell to stand at a low of 3.5 months.
In contrast, Arabica coffee prices on the ICE US – New York floor increased. Futures for March delivery increased 0.65 cents, to 119.1 cents / lb and futures for May delivery rose 0.5 cents, to 120.94 cents / lb, the increase slightly. Trading volume is above average.
Robusta coffee prices (ICE Futures Europe)
| Period | Fix price | Change | % | Volume | High | Low | Opening Price | Yesterday | Open interest |
| 01/21 | 1343 | -40 | -2.89 | 16233 | 1381 | 1330 | 1381 | 1383 | 36096 |
| 03/21 | 1364 | -24 | -1.73 | 14077 | 1387 | 1353 | 1385 | 1388 | 34132 |
| 05/21 | 1376 | -24 | -1.71 | 3329 | 1399 | 1365 | 1399 | 1400 | 15181 |
| 07/21 | 1392 | -24 | -1.69 | 1188 | 1416 | 1382 | 1416 | 1416 | 15674 |
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Unit: USD($)/ ton | Units Per Transaction: lot = 10 ton |
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Arabica coffee prices (ICE Futures US)
| Period | Fix price | Change | % | Volume | High | Low | Opening Price | Yesterday | Open interest |
| 12/20 | 116.85 | +1.20 | +1.04 | 36 | 116.85 | 116 | 116 | 115.65 | 294 |
| 03/21 | 119.1 | +0.65 | +0.55 | 21386 | 119.55 | 117.2 | 118.5 | 118.45 | 117672 |
| 05/21 | 120.9 | +0.50 | +0.42 | 6756 | 121.3 | 119.2 | 120.5 | 120.4 | 45082 |
| 07/21 | 122.5 | +0.45 | +0.37 | 4706 | 122.9 | 120.85 | 122 | 122.05 | 36640 |
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Unit: USD Cent/lb | 1USD = 100cent | 1Lb ~= 0.45Kg | Units Per Transaction: lot = 37,500 lb |
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Update prices of domestic coffee beans on December 3
The price of coffee beans in the Central Highlands provinces decreased by 400-500 VND, down fluctuating in the frame of 32,000 – 32,400 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,444 USD / ton, FOB – HCM, with a difference plus 60-80 USD / ton in term of March in London.
| Raw Coffee | Average price | Change | |||
| FOB (HCM) | 1,398 | Differential: +55 | |||
| Đắk Lăk | 32,000 | -800 | |||
| Lâm Đồng | 31,500 | -800 | |||
| Gia Lai | 31,900 | -800 | |||
| Đắk Nông | 31,900 | -800 | |||
| Pepper | 56,000 | 0 | |||
| USD/VND | 23,050 | 0 | |||
| Unit: VND/kg|FOB: USD($)/ton | |||||
Comments on the coffee market
Reais copper fell 0.24%, to $ 1 = 5.2410 Reais as foreign exchange inflows continued to pour in after US lawmakers submitted a $ 908 billion funding package that helped USDX increase in value. in a basket of strong currencies while US stocks did not have any significant fluctuations.
Robusta coffee prices on the London floor continued to fall deeply, but the pressure to sell new crops when Vietnamese farmers began to switch to a mass harvest, with the move “selling paper to buy real goods” of national traders. health.
Although the Foreign Agriculture Division (FAS) of the US Department of Agriculture (USDA) has forecast a 3.5% decline in Vietnam’s coffee output, to 30.2 million bags in coffee year 2020. / 2021 and the General Statistics Office of Vietnam have estimated coffee exports in November to reach about 70,000 tons, down 37.5% over the same period last year, bringing coffee exports in the first 11 months of 2020 nearly slumped. 4% compared to the first 11 months of 2019, but the selling pressure of the new harvest is not small at all.
Source: giacaphe.com
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