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Coffee Coffee prices today (October 13, 2020)

Coffee prices today (October 13, 2020)

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Coffee prices today October 13: Unfavorable weather, experts still expect the price to rise to 33 million VND / ton. Coffee prices today on October 13 fluctuated between 30,800 – 31,300 VND / kg, continued to decline. Around the world, two-exchanges coffee prices plunged together.

 

 

In Di Linh district (Lam Dong), the price of coffee today was purchased at 30,800 VND / kg. In Bao Loc district (Lam Dong), Lam Ha (Lam Dong), the price of coffee is the same at 30,900 VND / kg.

In Cu M’gar district (Dak Lak), the price of coffee today is 31,200 VND / kg. In Ea H’leo district (Dak Lak), Buon Ho (Dak Lak), today coffee prices are purchased at the same level of 31,300 VND / kg.

Similarly in Dak Nong province, coffee prices today purchased at 31,100 VND / kg in Gia Nghia and Dak R’lap).

Thus, the coffee prices in the localities today continued to decrease compared to yesterday, the average decrease of 400-500 VND / kg.

Ending the session this morning (Vietnam time), the price of Robusta coffee in London decreased by 27 USD / ton (2.14%), delivered in November 2020 was traded at 1,233 USD / ton, delivered in March 2021 decreased. $ 24 at 1,271. Meanwhile, on the exchange of New York in the US, Arabica coffee prices delivered in December 2020 decreased 2.4 cents / lb (2.15%) to 109.15 cents / lb, delivered in March 2021 decreased by 2.3. cent / lb (2.02%) to 111.5 cents / lb.

In Vietnam, long-lasting rains and floods in the Central and Central Highlands are affected by La Nina phenomenon 2020 – 2021. Heavy clouds and continuous rain in key coffee provinces in Vietnam can delay the collection time. plan. If the situation continues to rain as much as at present, the coffee crop in the Central Highlands may be delayed from 1 to 1.5 months, ie until the end of November 2020 or early December 2020. Coffee fruit on the sun-deficient tree is not yet ripe, although it has entered the new season.

The news of unfavorable weather for the coffee crop to be harvested in Vietnam and Brazil has partly stopped the wave of liquidation of overbought contracts on the two world coffee exchanges in the last weekend.

According to observers, the transaction in the country became unusually quiet, due to the low price, on the other hand, exporters did not want to offer for sale because the weather was unpredictable and did not know the time of collection. When will the new crop year 2020 – 2021 plan begin to flourish.

It is expected that there will be at least 1 week of less bustling coffee business due to farmers waiting for better weather conditions.

Experts predict, assuming London prices do not increase, this week’s lowest level for export Robusta coffee 2.5% broken black in the Central Highlands could be at 31.5 million tons. If selling for immediate or for delivery, the market is waiting for 32.5 million VND or more and 33 million VND / ton is expected by many people.

Market commentary:

  • The price of the two coffee exchanges decreased sharply just with a rain in the Brazilian coffee growing regions. Weather news that the state of Minas Gerais, Brazil’s largest arabica growing region, had rained weekend. Another news forecasted from October 15-16 and then October 20-28, Brazil continued to rain. Every October is the month when Brazilian farmers and world markets wait for rain.
  • The impact of falling prices is also due to news from the US: Republicans and Democrats have not agreed on the financial support package, although each side has given specific numbers: 1.8 and 2.2 billion USD. This week, the two sides will discuss again and probably the number will be in the middle. It is also due to this attitude that crude oil and gold prices fell based on the uncertainty of the support package. However, the Fed urged fiercely to have this support package as quickly and as possible to save the US economy. Meanwhile, President Trump locked the door on negotiations on support programs and promised that if elected, the package would be much bigger.
  • The US stock exchanges rose mainly thanks to the technology group. Meanwhile, the market is waiting for the third quarter of 2020 financial statements of the banking group. Forecast good results, profitable.
  • Domestic coffee price today is estimated at around 31.5 million / ton compared with 32 million / ton yesterday.

Coffee prices in Vietnam

TT of the bucket Average price Change
FOB (HCM) 1,390 Subtract: +135
Coffee priceDak Lak 31,200 -500
Lam Dong 30,800 -500
Gia Lai 31,100 -500
Dak Nong 31,100 -500
pepper 49,000 0
Exchange rate USD / VND 23,100 0
Unit of measure: VND / kg FOB: USD ($) / ton

Robusta coffee prices transactions in London

Period Price Change % change Mass Tallest The shortest Open door Open contract
11/20 1233 -27 -2.14% 4442 1269 1231 1261 34263
01/21 1255 -25 -1.95% 5626 1290 1253 1283 33671
03/21 1271 -24 -1.85% 1459 1304 1269 1296 23975
05/21 1287 -23 -1.76% 410 1319 1285 1315 10794
Unit: USD ($) / Ton Coffee priceTrading unit: lot = 10 tons

Arabica coffee prices traded in New York

Period Price Coffee price Change % change Mass Tallest The shortest Open door Open contract
12/20 109.15 -2.4 -2.15% 15910 113.35 108.55 111 97476
03/21 111.5 -2.3 -2.02% 8746 115.6 111 113.45 67710
05/21 112.95 -2.25 -1.95% 5852 116.95 112.5 114.95 33449
07/21 114.4 -2.2 -1.89% 1439 118.35 113.95 116 29407
Unit: USD Cent / lb 1USD = 100cent 1Lb ~ = 0.45Kg Trading unit: lot = 37,500 lb

 

Helena Magazine

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