function gtm_code() { ?>
close

Coffee Market Report 25th to 28th March 2013

 

 

 

 

Coffee Prices, Futures and Currency close levels:

 

Monday

Tuesday

Wednesday

Thursday

Friday

NY May-13 c/lb

135.60

137.60

136.60

137.15

closed

Lon May-13 $/t

2074

2090

2054

2051

closed

£/$

      1.5225

1.5189

1.5166

1.5146

closed

 

 

Futures Markets:

 

Arabica: Futures were steady on Monday after losing some ground as the euro weakened against the dollar following Cyprus’s deal to avert bankruptcy. Throughout the week the market seemed to tease, as there was promise for more on the upside but just was not delivering. We seem to find more comfort close to the 135s as covering momentum keeps the market within a tight range of 135-138.

Robusta: Speculators increased a net long position by 7,059 lots to 35,173 lots. This aided to the continuity of the recent high levels. Rumours that speculators are waiting for the 2100s before an aggressive covering may occur to liquidation positions.

Currency: The US economy grew at a faster pace than previously estimated in the fourth quarter, meaning that the £/$ exchange rate remains at a steady platform.

 

 

Physical Markets:

 

Brazil: The government may allow delays to the repayment of loans that has aided farmers through the steep drop in prices since last year, according to the main coffee producer entity, CNC (National Coffee Council).

Colombia: The Colombian Coffee Federation mentioned last Saturday that it expects to produce nearly 10 million bags in 2013, up from 7.7 million bags in 2012 of washed Arabic beans.

India: Exporters are expecting higher robusta supplies and the fresh stock will enable shipments at competitive rates. The Coffee Board post estimates for robusta are around 2,15,275 tonnes for 2012-2013.

Uganda: Heavy rains are expected to produce a rich coffee harvest between June and September which could see the country beat its export forecast of 3 million bags for the 2012/13 season hopefully giving a bumper crop, according to a senior industry official.

Kenya: For the third week running, the top grade (AA) increased in price but a further $44 a bag. 24,781 bags were offered for sale during the auction but of 10,258 of those found buyers.

AOB: According to a study published by the Central American Business Intelligence (CABI) nearly a million Central American coffee industry workers will lose their jobs due to the outbreak of Roya (coffee leaf rust).