USA: Coffee retreats more than 2%, industry tries to move forward with purchases, but producer remains resistant

게시됨 2023년 3월 29일

Tridge 요약

The Arabica coffee futures market saw a price devaluation of over 2% during a trading session at the New York Stock Exchange (ICE Future US) on March 29, 2023. This was largely due to favorable weather conditions in Brazil, which are expected to boost coffee production. The devaluation was most pronounced in December/23 futures, which fell by 415 points to 166.10 cents/lbp. Meanwhile, the conilon coffee market in London experienced a minor 0.59% price drop. Analyst Haroldo Bonfá of Pharos Consultoria discusses the market's expectations of increased production from Brazil, which is putting downward pressure on prices. Additionally, concerns about European inflation, currently above 10%, are impacting consumption predictions. Despite these challenges, the coffee market has so far shown resilient demand. However, the drop in prices has not significantly sped up marketing activities, indicating that producers remain reluctant to sell at these lower prices.

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원본 콘텐츠

The Arabica coffee futures market returned to operate with devaluation for prices in the trading session this Wednesday (29) on the New York Stock Exchange (ICE Future US). Pressured by good weather conditions in Brazil, in the early afternoon the commodity retreated by more than 2% abroad. Around 12:33 pm (Brasília time), May/23 was down 415 points, traded at 169.55 cents/lbp, July/23 was down 415 points, quoted at 168.85 cents/lbp, September/23 was low of 410 points, worth 167.55 cents/lbp and December/23 had a low of 415 points, worth 166.10 cents/lbp. In London, the conilon operates with stability, down 0.59% in the early afternoon. July/23 was down by US$ 13 per ton, traded at US$ 2170, July/23 was down by US$ 6 per ton, traded at US$ 21336, September/23 was up by US$ 5 per ton, traded at US$ 2105 and November/23 had a rise of US$ 15 per ton, quoted at US$ 2071. "The market is thinking that Brazil is going to harvest a lot. Market seeing the weather with ideal conditions, ...

출처: NoticiasAgricolas