On a day marked by numbers in the Brazilian harvest, arabica coffee advances another 300 points in New York
09/20/2022 17:09
The Arabica coffee futures market ended trading this Tuesday (20) with appreciation for the main contracts on the New York Stock Exchange (ICE Future US).
December/22 was up 405 points, traded at 225.15 cents/lbp, March/23 was up 330 points, quoted at 218.75 cents/lbp, May/23 was up 300 points, traded at 215.10 cents/lbp and July/23 had an appreciation of 265 points, quoted at 211.95 cents/lbp.
On the London Stock Exchange, conilon coffee had a day of appreciation. November/22 increased by US$ 34 per ton, traded at US$ 2236, January/23 recorded an increase of US$ 32 per ton, quoted at US$ 2221, March/23 had an appreciation of US$ 30 per ton, quoted by US$ 2191 and May/23 increased by US$ 26 per ton, trading at US$ 2175.
The market was supported by data released this Tuesday by Conab, which pointed to a harvest of 50.4 million bags. Previously, the figure was 5.4 million bags.
"Since adverse weather has reduced coffee yields. This year should have been the highest yielding year for Brazil's biennial coffee crop, but coffee production this year was reduced by drought," highlighted the analysis by the international website Barchart.
Tight ICE coffee stocks also support coffee prices. Arabica coffee inventories monitored by ICE last Friday fell to a 23-year low of 532,448 bags.
The coffee sector also monitors the forecast of rain in the coffee park areas in the coming days. The Procafé Foundation for some months has been that water stress in the main production areas of the country is worrying and, if the rains are delayed, the condition could compromise the 2023 harvest.
In Brazil, some of the main markets in the country also recorded appreciation this Tuesday.
Type 6 hard drink bica race had a high of 2.21% in Machado/MG, traded for R$ 1,390.00, Varginha/MG had a high of 2.34%, traded for R$ 1,310.00, Campos Gerais/MG rose 1.93%, traded at R$1,318.00 and Franca/SP rose 0.76%, quoted at R$1,330.00.
The peeled cherry type had a high of 2.24% in Varginha/MG, traded for R$ 1,370.00 and Campos Gerais/MG had a high of 1.85%, quoted for R$ 1,378.00. Guaxupé/MG maintained stability for R$1,339.00 and Patrocínio/MG for R$1,320.00 |
