The Adjustment of Coffee Prices on Both Derivative Markets
This adjustment was anticipated by experts after a series of explosive increases. Last week, arabica prices rose nearly 5% to 204.05 Cents/lb, while robusta prices increased slightly, by nearly 1%, to 2168 USD/ton. Notably, robusta prices have yet to surpass the resistance level of 2,180 USD/ton.
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Purchasing Pressures Drive Arabica Prices Above 200 Cents/lb
Concerns regarding supply conditions in Brazil have intensified, particularly as major coffee-growing regions like Minas Gerais have not received sufficient rainfall necessary for the flowering of coffee plants. This has led to a significant decrease in arabica inventories on the New York exchange, contributing to a strong upward trend in arabica coffee prices recently.
Consequently, robusta prices have also benefited from the increase in arabica prices; however, they remain relatively stable due to easing concerns about supply from Vietnam, as southern provinces begin to relax restrictions following extended periods of lockdown due to Covid-19.
