Futures Markets:
Arabica : It was a bearish market with subdued sessions. Origin stops and trader selling left the market vulnerable to further sell offs. Traders were winding down for the long week-end.
Robusta : Consecutive negative tones on the market. Vietnam pressure was largely removed as origin fixations crowded the market on Wednesday.
Currency : US Dollar strengthened on the news by over 1cent on the FED news .US Dollar remained well supported against euro and sterling. Euro weakened due to concerns regarding Spanish growth and the impact it will have on the ability to finance them.
Futures and Currency close levels:
|
|
Monday |
Tuesday |
Wednesday |
Thursday |
Friday |
|
NY May-12 c/lb |
186.20 |
185.35 |
184.75 |
184.75 |
Closed |
|
Lon May-12 $/t |
2036 |
2025 |
1991 |
1987 |
Closed |
|
£/$ |
1.6027 |
1.5877 |
1.5897 |
1.5824 |
n/a |
Physical Markets:
Brazil : Not many business took place during the week as buyer appetite as based on lower levels and exporters still not going so aggressive. Export in March reached 2, 189, 51 bags. From July 2011 to March 2012 there was a decrease in volume about 12% and increase in income about 21.5%, said Cecafe.
Honduras: Export in March jumped by 50% from the same month last year, said Incafe. Honduras which recently surpassed the Guatemala as the region’s biggest producer, exported so far 2.58 million bag in the 2011/12 harvesting season, a 24.2% jumped compared to the previous season.
Kenya : At the last auction 27,590 bags were offered with mixed prices and qualities and only 6,700 bags were sold.
Guatemala: Exports fell by 0.75% in March compared to a year ago. Anacafe stated that exports through the first six month of 2011/12 harvest season totalled 1,454,812 bags.
Uganda: 187,595 bags were exported in March-12 compared to 223,099 bags a year earlier as the harvest drew to an end, stated UCDA.
Indonesia: In March 2012, Sumatra Robusta exports slumped to 5,069.67 tonnes from a year earlier. In March 2011, 29,392 tonnes were shipped as the farmers sold stock to bank on high coffee price, according to government trade.
Vietnam : The country is forecast to export 1.15 million tonnes this year down 7.2 % from 2011, said the Agriculture Ministry
