Update on coffee prices on November 19: coffee prices plummeted when the new crop started

Domestic prices of coffee on November 19, 2020 continued to decline as the harvest season began. Around the world, coffee prices continued to reverse.

Coffee prices on November 19 in the world

On the world market, coffee prices today 19/11 continued to fluctuate in opposite directions.

Ending the session, Robusta coffee prices on ICE Europe – London continued to decline. January spot futures dropped another 14 USD, down to 1,402 USD / ton and futures for March delivery also dropped by 14 USD, to 1,409 USD / ton, the decline is very significant. Trading volume increased very high above average.

Robusta London chart January 2021 session on 11/18/2020

Robusta London chart January 2021 session on 11/18/2020

In contrast, Arabica coffee prices on the ICE US – New York floor rose for the third consecutive session. Futures for delivery in December increased 3.55 cents, to 119.75 cents / lb and futures for March delivery also increased by 3.55 cents, to 122.85 cents / lb, the very strong increases. Trading volume is very high above average.

Robusta coffee prices (ICE Futures Europe)

Period Fix price Change % Volume High Low Opening Price Yesterday Open interest
11/20 1383 -20 -1.43 7 1418 1415 1415 1403 1107
01/21 1402 -14 -0.99 13707 1448 1399 1414 1416 39584
03/21 1409 -14 -0.98 10070 1445 1407 1418 1423 32373
05/21 1421 -14 -0.98 3772 1456 1420 1430 1435 13896

Arabica coffee prices (ICE Futures US)

Period Fix price Change % Volume High Low Opening Price Yesterday Open interest
12/20 119.75 +3.55 +3.06 11870 121.1 116.35 116.5 116.2 7595
03/21 122.85 +3.35 +2.80 38612 124.3 119.7 119.7 119.5 116276
05/21 124.7 +3.35 +2.76 9982 126.15 121.6 121.6 121.35 42075
07/21 126.15 +3.25 +2.64 5479 127.45 123.1 123.2 122.9 34077

Thus, coffee prices on November 19 in the world market are plunging in Robusta coffee and reversing to recover at Arabica coffee prices.

Prices of coffee beans in the country today

The price of green coffee in the Central Highlands provinces decreased by 300-400 VND, down fluctuating in the frame of 33,400 – 33,800 VND / kg.

Meanwhile, export Robusta coffee price type 2, 5% broken black, stood at 1,529 USD / ton, FOB – HCM, with the difference plus 100 – 120 USD / ton according to the term price in March in London.

Raw Coffee Average price Change
FOB (HCM) 1,551 Differential: +135
Đắk Lăk 33,900 -500
Lâm Đồng 33,400 -500
Gia Lai 33,800 -500
Đắk Nông 33,800 -500
Pepper 56,000 0
USD/VND 23,090 0

Unit: VND/kg|FOB: USD($)/ton

Thus, coffee prices today 19/11/2020 in the domestic market are trading around 33,000 – 33,600 VND / kg.

Comments on the coffee market

Reais copper fell slightly by 0.07%, to $ 1 = 5.3360 Reais after risk rating agency Fitch Ratings put Brazil at BB- and feared a second wave of covid-19. Meanwhile, the state of New York, which announced it would close schools from today, has raised concerns despite positive expectations about the vaccine against the virus.

Coffee prices maintained a mixed trend, rising sharply in New York but falling slightly in London, suggesting that the Robusta market has appeared the pressure of new sales of top producers, in addition to increasing concerns of of the Arabica market when the Iota hurricane approached the Central American manufacturing countries, while the aftermath of Hurricane Eta left two weeks ago is still very heavy.

Although there has been preparation, the harvest of the crop in Vietnam is still taking place quite slowly due to the prolonged storms causing slow ripening of the berries, while the market demands for higher quality Robusta beans.

The Eurozone economy, which has been stagnant due to internal contradictions, has to implement a successive social gap because of covid-19, although the European Central Bank (ECB) has taken many stimulus measures. likes to be aggressive, but it seems not enough.

According to observers, the price of Robusta coffee in Southeast Asia extends the current plus difference in the range of 130 – 160 USD / ton compared to the futures price, showing that there is an irrationality that makes the business world not. salty that brought coffee to London floor to participate in auction.

Source: Compiled from giacaphe.com

Update daily coffee prices at: update coffee prices

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