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Coffee Coffee prices today October 14/2020: Arabica prices turned to...

Coffee prices today October 14/2020: Arabica prices turned to go up, Vietnamese coffee exported to the EU increased sharply

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Coffee prices today on October 14/2020 fluctuated between 30,600 – 31,100 VND / kg, continued to decline. In the world, the price of 2-exchanges coffee futures was mixed.

In Di Linh district (Lam Dong) , today’s coffee price was purchased at 30,600 VND / kg. In Bao Loc district (Lam Dong), Lam Ha (Lam Dong), the price of coffee is at 30,700 VND / kg.

In Cu M’gar district (Dak Lak), the price of coffee today is 31,000 VND / kg. In Ea H’leo district (Dak Lak), Buon Ho (Dak Lak), today coffee prices are purchased at the same level of 31,100 VND / kg.

Similarly in Dak Nong province, Coffee prices today October 14/2020 purchased at 30,900 VND / kg in Gia Nghia and Dak R’lap).

In Gia Lai province, today’s coffee price is 30,800 VND / kg (Chu Prong), in Pleiku and La Grai the same price is 30,900 VND / kg. Today, coffee prices in Kon Tum province are purchased at 30,900 VND / kg.

Thus, the price of coffee in the localities today continues to decrease compared to yesterday, the average decrease of 100-200 VND / kg.

Ending the session this morning (Vietnam time), the price of Robusta coffee in London decreased by 10 USD / ton (0.81%) delivered in 11/2020 traded at 1,223 USD / ton, delivered in March 2021 down $ 8 at 1,263. Meanwhile, on the exchange of New York in the US, the price of Arabica coffee delivered in December 2020 increased by 0.95 cents / lb (0.87%) at 110.1 cents / lb, delivered in March 2021 increased by 1, 1 cent / lb (0.99%) to 112.6 cents / lb.

USD weakened and investors boosted selling, causing coffee prices to decline in recent days. According to Fortune, coffee in Brazil is likely to increase sharply in the next season due to drought because La Nina weather is likely to cause production decline. Meanwhile, in Colombia, La Nina caused heavy rains affecting the yield and quality of coffee trees.

In Vietnam, according to preliminary statistics of the General Department of Customs, in August 2020, the country exported 100,188 tons of coffee, earning $ 184.35 million, down 8.9% in volume and down 6, 3% of turnover compared to July 2020. For the first 8 months of 2020, the country exported over 1.15 million tons of coffee, earning $ 1.97 billion, with an average price of $ 1,711 / ton, down over 2% in both volume and turnover but increased slightly 0.1% in price compared to the first 8 months of 2019.

It is estimated that in the first 9 months of the year, coffee exports reached 1.25 million tons, equivalent to 2.16 billion USD, down 1.4% in volume and 1% in turnover over the same period in 2019.

In August 2020, in general, coffee exports to most markets increased compared to July 2020, of which increased sharply such as: Denmark increased by 225% in volume and 2724% in turnover, reaching 273 tons, equivalent to 0.5 million USD; Myanmar increased by 174% in volume and 245% in turnover, reaching 156 tons, equivalent to $ 0.61 million; Israel increased 86% in volume and 235% in turnover, reaching 530 tons, equivalent to 1.48 million USD.

For the first 8 months of the year, Germany, the US and Italy continued to be the three largest coffee consuming markets of Vietnam with market shares of 13.2% respectively; 9.1% and 8%. In the first 8 months of 2020, coffee exports increased sharply in the following markets: Poland (up 46.2%); Denmark (up 32.9%) and Cambodia (up 30%); Netherlands (up 28.5%). In contrast, coffee export value decreased the most in Mexico (down 76%) and Laos (down 74.7%); Hungary (74.2% decrease).

Coffee prices today October 14/2020:

Coffee prices in Vietnam

TT of the bucket Average price Change
FOB (HCM) 1,385 Subtract: +135
Coffee priceDak Lak 31,100 -100
Lam Dong 30,700 -100
Gia Lai 31,000 -100
Dak Nong 31,000 -100
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 1223 -ten -0.81% 8497 1245 1214 1238 33485
01/21 1250 -5 -0.40% 14739 1272 1241 1259 34728
03/21 1263 -8 -0.63% 5425 1287 1257 1272 24013
05/21 1279 -8 -0.62% 3180 1301 1272 1287 10769
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
12/20 110.1 +0.95 +0.87% 14782 111.15 108.7 109.3 95967
03/21 112.6 +1.1 +0.99% 9250 113.55 111.15 111.75 68765
05/21 114.1 +1.15 +1.02% 3209 114.9 112.7 113.1 33877
07/21 115.55 +1.15 +1.01% 3262 116.25 114.15 114.65 35091
Unit: USD Cent / lb 1USD = 100cent 1Lb ~ = 0.45Kg Trading unit: lot = 37,500 lb

Market commentary:

At the close, the price of the NY coffee exchange increased, although the indicator was not oversold, but the LD decreased even though the oversold indicator reached an alarming level, the RSI of November 2020 LD 9/14/20 fell below. reference level 30%.

There are three ways to explain the phenomenon of robusta sacrifice. One is that Robusta must be sacrificed because the price difference between the two exchanges has not met the requirements for traders to buy. Second: The market is thinking that there will be more robusta products in Vietnam today. Third: Create strong pressure on the London exchange to cause big waves in the future.

  • However, the raise of the margin level on the London exchange has forced the speculative funds to sell to reduce the buying surplus, but in fact has not met the requirements.
  • LD price dropped to the deepest level since the last 3 months when the news that Brazil exported strongly in September 2020, reaching 3.5 million bags, is the largest volume in the history of September (Cecafe).
  • Domestic coffee price today is estimated at around 31.4 million / ton compared with 31.5 million / ton yesterday.

 

 

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