Coffee Prices, Futures and Currency close levels:
|
|
Monday |
Tuesday |
Wednesday |
Thursday |
Friday |
|
NY Mar-14 c/lb |
108.55 |
108.75 |
108.10 |
Closed |
110.85 |
|
Lon Jan-14 $/t |
1566 |
1603 |
1614 |
1628 |
1642 |
|
£/$ |
1.6153 |
1.6192 |
1.6268 |
1.6338 |
1.6362 |
Futures Markets:
Arabica: There wasn’t much movement all week in the NYC. With prices on the up, origin will feel justified holding back but as time goes on more coffee will flow in Vietnam and a spec fuelled rally can only extend for so long.
Robusta: Robusta coffee futures set a six-week high on Thursday the flow of supplies from top producer Vietnam slowed due to rain and farmers' reluctance to sell, while cocoa also advanced and white sugar edged up.
Currency: GBP/USD continued to grind higher on Friday reaching a high of $1.6384 before pushing through the $1.64 level in trading this early
Physical Markets:
Vietnam: Vietnam, the world's largest robusta producer, could export 80,000 tonnes (1.33 million bags) of coffee this month, a drop of 34.4 percent from the same month in 2012, the government said on Tuesday, above market expectations. Coffee exports in October were revised down to 61,100 tonnes, from 65,000 tonnes estimated earlier, the government's General Statistics Office said in its monthly report.
Guatemala: Guatemala's coffee association Anacafe, which collates figures from the mostly arabica growing region, said exports during the previous 2012/2013 season totaled 29.37 million bags.
Mexico: Coffee exports from Mexico fell 27.8 percent from a year ago to 168,338 60-kg bags in October, the country's national coffee association, AMECAFE, said on Monday.
Colombia: Colombian President Juan Manuel Santos said on Wednesday the government will continue paying a direct subsidy to coffee growers while prices remain low, a measure the world's top washed arabica producer introduced due to sliding prices.
Brazil: The Brazilian government is studying more measures to help coffee growers, an official from the Agriculture Ministry said Wednesday. As prices for arabica coffee, the mostly widely grown variety, trade near seven-year lows, Brazil's government has taken steps to support the coffee industry, which produces about 2% of the nation's total exports by value.
