Wednesday, 11 January 2023 02:38

Arabica coffee futures trade lower due to pressure from supply factors

Written by Evelyn Alas

According to the Consejo Salvadoreño del Café (CSC), Arabica coffee prices dropped slightly yesterday, monday. Operations remain in the average range of the last week, with a minimum of US$156.40 and a maximum of US$161.20. Underlying the price behavior are fundamental and speculative factors.

Determining factors: The Organización Internacional del Café (OIC), reported that global exports in the month of november 2022 totaled 9.21 million 60 kilogram bags, an advance of 10.8% compared to the same month of 2021.

café – Página 2 – Abecafe

The cumulative figure for the first two months of FY22/23 is 19.6 million bags, up 1.6% on the same period last year.

The increase in certificates in warehouses monitored by the Intercontinental Exchange is putting pressure on Arabica futures. In addition, volume reached nearly 836.7 thousand 60-kilo bags, a six-month high, generating confidence in future supplies.

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The dollar lost ground against its major peers. The fall against the euro is the largest since june 2022.

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This situation increased volatility in the commodities market, but at the same time limited the decline in coffee prices.

 

Translated by: A.M