USA: Arabica extends lows with dry weather in Brazil, but conilon coffee rises in the UK with supply concern

Published 2023년 3월 28일

Tridge summary

The Arabica coffee futures market has seen a decrease in prices on the New York Stock Exchange due to dry weather in Brazil, impacting future harvest prospects. Meanwhile, concerns about supply from Indonesia have led to an increase in conilon coffee prices in London. Coffee trader Volcafé predicts a record deficit of 5.6 million bags in the global conilon coffee market for 2023/24. In Brazil, the internal market for hard drink bica bola and pulped cherry type coffee has seen varying price changes. Additionally, demand from Brazil's main trading partners and the introduction of a new protocol to verify the sustainability of Brazilian coffee cultivation are affecting market dynamics.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Arabica coffee futures market opened trading this Tuesday (28) extending the lows for the main contracts on the New York Stock Exchange (ICE Future US). The drier weather in Brazil has weighed on prices as the harvest approaches. On the other hand, the producer continues to participate little in the market. Around 8:55 am (Brasília time), May/23 was down 155 points, trading at 175.35 cents/lbp, July/23 was down 175 points, worth 174.40 cents/lbp, September/23 was low of 175 points, traded for 172.80 cents/lbp and December/23 had a devaluation of 155 points, worth 171.35 cents/lbp. In London, the conilon is supported by concerns about supply from Indonesia and operates with appreciation. Coffee trader Volcafé predicted that the global conilon coffee market in 2023/24 would have a record deficit of 5.6 million bags. May/23 was up by US$ 20 per ton, worth US$ 2234, July/23 was up by US$ 13 per ton, quoted at US$ 2179, November/23 was up by US$ 11 per ton, worth US$ 2131 and ...

Source: NoticiasAgricolas