Market Reports Blog / Market Reports / Coffee Market report 24th to 28th March 2014

Coffee Market report 24th to 28th March 2014

OFFEE MARKET NEWS 24th March – 28th March 2014

 

Coffee Prices, Futures and Currency close levels:

 

Monday

Tuesday

Wednesday

Thursday

Friday

NY May-14 c/lb

176.40

175.30

176.00

176.35

180.60

Lon May-14 $/t

2083

2073

2080

2083

2096

£/$

1.6498

1.6526

1.6574

1.6620

1.6642

 

Futures Markets:

Arabica: Arabica coffee futures on ICE rose on Friday as the market remained focussed on the outlook for this year's production in top grower Brazil with recent rains seen providing only limited relief after a crop damaging dry spell early this year.

Robusta: We quickly broke through Thursdays high as May Robusta accelerated towards 2100 during the early part of the session. Fresh news seemed hard to find but NY helped lift London higher also. Origin has certainly been less active throughout this week than previously, and the same could also be said for industry.

Currency: On the FX markets, the UK retail sales data lifted GBP/EUR to a 3 week high of €1.2101 while GBP/USD rose to $1.6647.

Physical Markets:

Brazil: A quiet week. Internal market slow, some expect that the pace will pick up once we are closer to the crop. External interest for some long term spreads from industry but actual business not materialising. Second hand market more competitive but also with occasional business only. Weather cloudy.

Colombia: Much awaited Mitaca coffee flow still not there and internal replacement continues to firm up. Weather improved somewhat, although more sunny days are still necessary for proper flowering of the mid and higher lying farms.

Guatemala: The crop is nearly finished in Guatemala. Just some highland regions particularly Huehuetenango the picking is still on process until the beginning of April.

Honduras: Crop 2014/2015 – promising flowering of coffee trees is being reported from all party of the country. No new Roya/Rust outbreaks have been reported so far.

Kenya: The top price of Kenya's benchmark coffee grade rose by 11% per 50 kg bag at this week's auction from last week, the Nairobi Coffee Exchange (NCE) said on Tuesday. A total of 24,848 bags were offered, with 8,768 sold. Last week, 27,613 bags were offered and 6,373 sold.

India: Coffee prices in India fell in line with overseas markets at a weekly auction, though rising exports kept the downside limited. About 33,000 kg coffee of the total 237,878 kg on offer was sold. Arabica accounted for 144,864 kg, while robusta made up 93,014 kg.