Brazil: Uncertainties with demand weigh and coffee retreats more than 3% in NY

Published 2023년 3월 8일

Tridge summary

The global demand for coffee has led to a retreat in quotations on the New York Stock Exchange, with quotations retreating more than 3% in the afternoon of this Wednesday. May/23 was down 635 points, traded at 176.25 cents/lbp, July/23 was down 625 points, quoted at 175.65 cents/lbp, September/23 was down 605 points, worth 174.30 cents/lbp and December/23 had a drop of 560 points, worth 172.902 cents/lbp. Market monitors consumption indicators, with concern over global demand for the product. The market will be influenced by upcoming official figures from the Council of Coffee Exporters from Brazil (Cecafé), as the market continues with slow trading and an inverted market, with the present worth more than the future, which also limits business.

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

Original content

The concern with the global demand for coffee weighed again on the market and in the early afternoon of this Wednesday (8) the quotations retreated more than 3% on the New York Stock Exchange (ICE Future US). Around 12:34 pm (Brasília time), May/23 was down 635 points, traded at 176.25 cents/lbp, July/23 was down 625 points, quoted at 175.65 cents/lbp, September/23 was drop of 605 points, worth 174.30 cents/lbp and December/23 had a drop of 560 points, worth 172.902 cents/lbp. According to an analysis by Fernando Maximiliano, from StoneX Brasil, the market monitors consumption indicators, which has generated great concern in relation to the global demand for the product. "We have data that show us that demand remains weaker, and that it may even have recovered pre-pandemic levels", he comments. For the analyst, the consumption numbers in the domestic market, released by the Brazilian Coffee Industry Association (ABIC) last week are still digested by the market. The report pointed ...

Source: NoticiasAgricolas