03. 12. 2012

Futures Markets:

Arabica : coffee futures settled at 4 Week Lows on Friday amid continued liquidation and further bearish momentum. A general decline of the key commodity markets added pressure to coffee prices as the news that Goldman Sachs was to be fined. Significant roaster buying was seen, however, near the day's lows. During the week, Arabica prices lost 2.7 % or 3.60 cents.

Robusta : Liffe Robusta Certified Stocks dropped sharply in the latest data released by the Exchange. The total of valid certs is now 27,912 lots, or 279,120 tons. Non-tenderable stocks stood at 161 lots. Robusta futures settled lower, mainly from spillover selling related to NY

Currency : Monday sharp fall in the value of the Dollar as both Sterling and the Euro rose significantly.

 

Futures and Currency close levels:

Monday

Tuesday

Wednesday

Thursday

Friday

NY May-10 c/lb

133.55 (+0.85)

132.20

131.85

131.75

129.10

Lon May-10 $/t

1353 (+13)

1346

1348

1348

1345

£/$

1.5382

1.5373

1.5466

1.5491

1.5394

 

Physical Markets:
Brazil : The Real was devalued as the Central bank bought US Dollars. The bank has been very aggressive in the market in order to support the dollar.

Colombia : The mid-year coffee harvest should bring solid output for the April-to-June period, but exporters say production may not meet the mid-year target set by the country's coffee federation. The Colombian coffee growers' federation set a coffee production target of 5.15 million bags for the first half of the year.

Roasters operating in Colombia imported 180,000 60-kg bags of coffee during the first quarter of the year to supply the local market, but imports will slow this year compared with 2009, the country's coffee federation said on Thursday. The federation didn't provide comparative import figures for the first three months of 2009.

Mexico : Coffee exports from Mexico rose 9.25% in March to 393,033 bags, according to Amecafe, the private-sector coffee organization that includes farmers, roasters and exporters. Cumulative exports for the 2009/10 coffee year, which began in October, were 1,301,675 bags, up 6.83% from the same period in the previous cycle.

Honduras : coffee exports could come in as low as 3.14 million bags, or 11% below previous forecasts, according to the general manager of the national coffee institute (IHCAFE). Coffee continues to be smuggled into Guatemala, which cuts Honduran export offering, and the harvest has also been affected by bad weather.

India : According to statistics from the Coffee Board of India, coffee exports increased by 40% year-on-year in the fourth quarter ended March 31st.

Kaapi Royale Coffee will serve samples of an espresso based on the rare Coffea liberica species during this week's Specialty Coffee Association of America conference and exposition in Anaheim, California. The blend, called Anokhi Karma, combines coffee from the Liberica cultivar with others exported from India exclusively by Kaapi Royale Coffee. Availability is extremely limited for this rare coffee and will be served only while supplies last.

Vietnam : The world's largest robusta coffee producer, has finalised a plan to stockpile 200,000 tonnes, or 3.33 million bags, of coffee in the three months ending July 15 to shore up prices under a six month stockpiling plan, with purchasing to start on April 15. In late 2009 Vietnam's coffee industry officials initiated a plan to put aside one fifth of the country's coffee output to boost prices, but a lack of funding and details regarding which companies would stockpile the beans have delayed the process.

ICO : LONDON - As a result of information received, Ico has revised downward its estimate of world production for crop year 2009/10 to between 120 to 122 million bags. Colombian production in the first five months of crop year 2009/10 was well below the level recorded for the same period in crop year 2008/09, indicating the likelihood of a second consecutive year of reduced production. Exports by all exporting countries during February 2010 totalled 7.1 million bags compared to 8.7 million bags in February 2009. The cumulative total for the first five months of coffee year 2009/10 (October 2009 - February 2010) was 35.6 million bags compared to 40 million bags for the same period in 2008/09, a fall of almost 11%. Declining production in many countries has led to a drawing down of remaining stocks to very low levels, especially in exporting countries, while certified stocks of the New York and London futures markets have been falling continuously since September 2009.

UK :Figures released last week by Nestle show that Nespresso grew 22% globally and 35.5% in Britain during 2009

UK : According to reports, United Coffee is merging its two UK operations, First Choice Coffee and Gala Coffee, which supply food service companies such as McDonald's and Subway as well as major supermarket groups. United Coffee said it was too early to assess the impact on its 280 staff in the UK, but added that it intended to grow the business across the UK.

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