Coffee Market report 6th April 2015 to 10th April 2015

COFFEE MARKET NEWS Week Ending: 10^th April 2015

Commentary

Monday followed through from the previous Friday’s positive close, posting highs of over 147 – levels not seen since mid February. But, it seems profit taking was the order of the week, and the small rally that had built up almost 15 cts, soon came tumbling back down over the course of the week, shaving 12cts off the board.

London – still struggling to make any gains, and seemingly trapped in a sideways trading session. Fridays close did manage to lift the spirits a little though, posting a modest 35usd increase on the week.

GBP / USD The USD continues to hold strong against the GBP and many currencies, with the GBP suffering considerably this week – we’ll be postponing our Disney Land holiday for a while…..

GBP/EURO The Euro around 1.38 against the GBP remains weak, with nothing on the immediate horizon looking to lift it.

Origins

Vietnam – hardly anything is shifting in Vietnam as farmers are sticking to their price ideas – a tough ask when Brazil has a good Conilon crop, and a shrinking arbitrage. Jan to March export figures were 40% lower compared to 2014, and given the figures haven’t improved so far in April we could end up in a sticky situation, with a potentially record crop just around the corner – the farmers need to sell fast or be left with sizeable volume of past crop on their hands!

Colombia – Whilst weather remains favourable in the country for coffee flow, truckers strikes, low terminal markets, high internal pricing and a weak pesos (below 2500) all combining to create a difficult situation, little seems to be changing hands and moving as buyers v sellers price ideas are a few cents apart at least!

Kenya – Crop still continuing with 20,000 bags sold this week, with a similar amount on offer next week. Quality is slowly deteriorating as tail end main crop and undergrades start to surface. Pricing still firm though, with asking prices seemingly astronomic. .

Guatemala – suffering from its lowest 12 month export volume in over 30 years, Guatemala still holding steady in terms of pricing. 6 month export figures are down 17& on 2014, and this doesn’t look set to change for some time! Presently, the interest is only for premium grades.

London Coffee Festival – Don’t forget this is Fast Approaching, the 2015 London Coffee Festival will take place in the old Truman Brewery on Brick Lane, London. DRW will be exhibiting, with Producer presentations, roaster brew bars, and cupping each and every day. There will also be 2 charity auctions, as we offer up a few of our best coffees for sale – with all profits going to Water Aid charity