Market Reports Blog / Market Reports / Coffee Market Report 9th December 13th December 2013

Coffee Market Report 9th December 13th December 2013

COFFEE MARKET NEWS 9th December – 13th December 2013

 

Coffee Prices, Futures and Currency close levels:

 

Monday

Tuesday

Wednesday

Thursday

Friday

NY Mar-14 c/lb

106.10

110.25

109.70

111.30

115.25

Lon Jan-14 $/t

1723

1849

1790

1821

1816

£/$

1.6421

1.6448

1.6387

1.6332

1.6285

 

Futures Markets:

 

Arabica:  Bullish market finishing the week with a strong rally. NY closed at its highest level for two months as technical buying droves prices steadily higher.

Robusta:  Prices increase steadily reaching a 4 month high and then eased on the last day of the week.  

Currency:  GBP/EUR tested support mid week and then dipped below 1.63 on Friday. US got stronger retail sales than expected. GBP/EUR went below the 1.19€.

 

 

Physical Markets:

 

Brazil: Brazil exported 2.32 million 60-kg bags of green coffee in November, down from 2.54 million a year earlier, coffee export association Cecafe said on Tuesday.

Indonesia: Robusta coffee premiums slid this week to a low of $30 a tonne, their weakest since April and down sharply from a three-month peak of $200 touched in October, after rallies in London futures, dealers said on Friday. Because, this week on concerns over nearby supply.

Kenya: The value of coffee sold at Kenya's coffee auction in the 2012/13 season fell 13 percent to $166.7 million compared to a year earlier reflecting lower sales and a drop in global prices, officials said on Tuesday.

Tanzania: arabica prices fell at auction last week, weighed down by fears of global oversupply by Latin American producers, the industry regulator said on Wednesday.

Uganda: The Ugandan shilling UGX= was stable on Friday but expected to strengthen on the back of hard currency inflows from coffee exporters. “Next week, we see the shilling firming below 2,500 because the downward momentum is very strong with dollar supplies we’re receiving from coffee exporters,” said Daniel Sage Muganza, trader at Centenary Bank.

India: Coffee prices in India were flat-to-lower at a weekly auction on lack of buying support amid firm overseas market last week.

Vietnam: Coffee prices on Tuesday hit to their highest level in nine weeks, trailing gains in the London futures market, even though harvesting in the world's top robusta producer had been two-thirds completed, traders said on Tuesday.