Coffee prices on both exchanges rebounded sharply (December 6, 2019).
Optimistic economic growth has attracted investors back to the market to increase buying, helping coffee prices rebound strongly on both exchanges futures, while prices of gold and crude oil seem to be on the sidelines. Chart of Robusta London T1 / 2020 session on December 5, 2019 End of the session, the price of Robusta coffee on ICE Europe - London reversed. The spot term in January increased by 33 USD, to 1,380 USD / ton and the term for delivery in March increased by 31 USD, to 1,401 USD / ton, the levels increased sharply. The trading volume is quite high above the average. Similarly, Arabica coffee price on ICE US - New York floor increased. March spot futures increased 3.6 cents / lb, to 124.85 cents / lb and May delivery futures increased 3.5 cents / lb, to 127 cents / lb, the sharp increase. Trading volume remained very high above the average. The price of green coffee in the Central Highlands provinces increased by VND 600 - 700, fluctuating in the range of VND 33,100 - VND 33,500 / kg. Export price of Robusta coffee grade 2, 5% black broken, stood at 1,501 USD / ton, FOB - HCM, with the difference plus 80 - 100 USD at the March futures price in London. The exchange rate of the Reais increased by 0.35% to US $ 1 = 4,1890 Reais due to the optimism of Brazil's economic development, while the US dollar declined, due to concerns that the trade negotiations were not specific and The day when the US raised the tariff on imported goods from China, causing investment flows to return to the commodity markets. However, New York coffee prices rebounded sharply this session while the price of gold and crude oil seemed to be on the sidelines. Robusta coffee prices in London rebounded with more optimism from Eurozone economic growth and Brexit issue promises to have a possible exit after the United Kingdom to elect a new Prime Minister. According to the November Trade Report of the International Coffee Organization (ICO), global demand for coffee in October only reached 8.91 million bags, down 13.41% over the same period last year. The ICO also noted that Robusta coffee exports in the period only reached 2.82 million bags, down to 21.53% in the context of exports from major producing countries before the harvest of the new crop. English (giacaphe.com)