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Weekly Market Report 11 to 15 June 2012

 

Futures Markets:

Arabica : NY moves to 2 year lows as the price of coffee falls again! Caused in part by a nearby over supply and world speculators with eyes firmly fixed on other, more demanding and immediately more pressing world markets.  

 

Robusta : Still ploughing its own furrow and trading at very strong levels against the Arabica/Robusta arbitrage.  

 

Currency : Sterling improves against the Dollar as we are near the crest of what seems to be, a trending wave of

1.53 to 1.57.

 

Futures and Currency close levels:

 

Monday

Tuesday

Wednesday

Thursday

Friday

NY Jul-12 c/lb

155.10

154.20

152.50

149.20

150.05

Lon Jul-12 $/t

2062

2062

2090

2093

2095

£/$

1.555

1.560

1.564

1.565

1.564

 

Physical Markets:

 

Brazil : Europe's cash coffee market saw strong demand for Brazilian beans this week as a major multinational food company stepped in to purchase them and required sustainability certificates as well.

Mexico : Coffee exports from Mexico fell 1.1 percent in May compared to the same month a year earlier, reaching 376,013 60-kg bags in the month.   

Nicaragua : Coffee exports from Nicaragua dropped 3.3 percent in May compared to the same month a year earlier, reaching 196,366 60-kg bags in the month. 

El Salvador : Coffee exports from El Salvador fell 46.3 percent in May compared to the same month a year earlier, reaching 118,458 60-kg bags in the month

Kenya : The top price of Kenya's benchmark coffee grade AA fell to $305 per 50 kg bag at this

week's sale from $329 at the previous auction.

India: Coffee prices in India rose at this week's auction on strong demand from exporters, Especially quality Parchment Robusta’s.

Indonesia : Robusta exporters are increasing month on month as traders look for a cheaper option than Vietnam.