(CDC) - Coffee prices in the raw materials area in the Central Highlands provinces rose unexpectedly on the first day of month August 2014 to 42 million VND / ton, far exceeded the previous month’s peak about 40.5 million VND / ton set on 8-7 and above 2.5 million VND / ton compared with the previous day 31-7. Unfortunately, high prices do not last long. Yesterday, Thursday August 7th, domestic coffee prices fell to around 38 million VND / ton.
Prices may decrease rapidly due to extremely strong sales as domestic market reached above 41 million / ton or more, but not from a hand through the key hands that sent prices available in store buyers. On the other hand, speculators on the trading floor in London term profit taking futures contracts (futures Contracts) previously purchased.
Robusta prices on the term floor of London Ice Liffe is the main exported commodities of Vietnam, on the last day of month June 31st 2014 suddenly increased sharply to 2104 dollars / ton, up 111 dollars / ton compared with a week ago. The reason that futures prices rose sharply as rumors about coffee production in the exporting country is a world leader in Brazil may be just under 40 million bags (60 kgs x cover) compared with the past time is over 55 million bags.
"If you look at the prices’ movement on the future floor and even the domestic market, I do not believe the price increased / decreased in recent days as a result of supply and demand or the news about shortage of coffee; all rumors are drawn by speculators to surf ", an industry expert in the HCMC said.
Robusta futures prices suddenly rose quickly and then rapidly dropped, close prices on midnight August 6th 2014 was only 1992 dollars / ton, down 112 dollars / ton compared with the price on July 31th.
"The price increased strongly at the end of month and then decreased after that, it can only be explained that financial speculators trying to drive prices last month rose to set a high value for the reality of inventory and virtual goods volume in order not to raise capital into robusta coffee floor, "he said.
For the supply and demand balance, the latest information from the International Coffee Organization (ICO) reported that the three leading export countries still sold goods strongly till the end of June 2014. ICO said in the first nine months of the crop starting from Oct 1st 2013, exports coffee of Brazil reached 33.4 million bags, increased 9%, Vietnam reached 16.2 million bags, this increases and decreases are insignificantly, but Colombia reached 10.6 million bags, up 13.2% compared to the same period in the previous season.
Source: tintucnongnghiep.com
1
2
3