The range of activity was at US$5.45 with a high of US$159.95 and a low of US$154.50 per quintal gold.
Some of the determining factors are due to the fact that last week the Compañía Nacional Abastecimiento de Brasil (CONAB) projected that the country's harvest in 2023 will increase by 7.9%, approaching 55 million 60-kilo bags.
Under normal conditions, this news is negative for prices due to increased supply; however, the market is not responding in that direction.
Trade in Vietnam has been limited due to Lunar New Year celebrations, the latest data for coffee exports from the Asian country indicates a 10% advance in 2022 versus 2021. It is worth noting that free trade agreements (FTAs) signed in the last year could favor Vietnamese coffee trade in 2023.
The inventories of Arabica coffee certified by the Intercontinental Exchange (ICE) are close to 860,000 60 kg bags. Of this volume, 54% is semi-washed coffee from Brazil, while 48% is washed coffee from Honduras.
Translated by: A.M