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

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

Unit: USD($)/ ton | Units Per Transaction: lot = 10 ton

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

Unit: USD Cent/lb | 1USD = 100cent | 1Lb ~= 0.45Kg | Units Per Transaction: lot = 37,500 lb

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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