Potential supply factors in Brazil are pressuring the market. Inventories certified by the Intercontinental Exchange reached a five and a half month high on the last trading day, totaling 8,147 60 kilogram bags.
As of the close of december, harvesting of Vietnam's 2022/23 crop is estimated to be 85% complete. Coffee has begun to arrive at ports, however, a disruption in trading activity is expected due to the Tetl Lunar New Year holiday, which will take place at the end of january.
It was reported that Costa Rica's coffee exports to december were 11.7% lower than the same month of 2021. The above takes the accumulated shipments of the harvest.
Also in crop 22/23 at 62.9 thousand bags of 60 kilos 23% less than the same quarter last year. A strong advance of the dollar against the colombian peso was reported, up 14% to 4930 units (an eight-week low), putting pressure on the Arabica market.
Translated by: A.M