CIMBALI
Wednesday 13 November 2024
  • DVG De Vecchi
  • La Cimbali

Coffee futures markets continue to be highly volatile on weather news from Brazil and Vietnam

Meanwhile, Brazil's foreign trade secretariat (Secex) released preliminary data on coffee exports in all forms during October, which amounted to 4.799 million bags, up 12% from the same month last year. Between January and October, 39.436 million bags were exported, a 37.7 per cent increase compared to the first 10 months of 2023

Must read

Dalla Corte
TME - Cialdy Evo
Demuslab

MILAN — Coffee futures markets continued to be highly volatile during the first ten days of November. After Thursday’s rally, both exchanges experienced an equally sharp turn into negative territory on Friday 8 November. In New York, the contract for December delivery of the Ice Arabica lost 705 points (-2.7%), ending the week at 253.35 cents.

In London, the Robusta coffee futures contract for January delivery fell $110 (-2.5%) to settle at $4,376.

Helping to push both markets lower was data from the new Ico report, which shows world coffee exports for coffee year 2023/24 at an all-time high of 137.273 million bags and highlights an unprecedented increase in global green coffee shipments.

Meanwhile, Brazil’s foreign trade secretariat (Secex) released preliminary data on coffee exports in all forms during October, which amounted to 4.799 million bags, up 12% from the same month last year.

Between January and October, 39.436 million bags were exported, a 37.7 per cent increase compared to the first 10 months of 2023. Cecafé will publish full data on Brazilian exports this week.

According to broker Escritório Carvalhaes, Brazilian producers will slow down their coffee sales in the coming months as they wait to see the size of the new crop, the first reliable estimates of which will only be available between February and March.

Storm Yinxing continued to weaken this morning and is expected to degrade into a low-pressure area as it nears central Vietnam, while Typhoon Toraji has intensified and is projected to enter the East Sea, report local media.

It is still too early to anticipate the impact on the coffee growing areas, although November is traditionally a drier month suitable for harvest and cherry drying conditions, and rain may interrupt the harvest activities that are underway.

CIMBALI

Latest article

  • Franke Mytico
  • Gimoka
Demus Art of decaffeination