Coffee prices rally as Vietnam crop disappoints
Michael Chen
Senior Web Developer
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Keith Flury, head of coffee research at Volcafe, said that with delayed tree flowering – which will lead to the growth of coffee cherries currently under way – it would be mid to late-December when the trader would have a clearer view on production.
Both arabica and robusta prices rallied on worries about 2015 supplies, with ICE March arabica up 2.5 per cent to $1.955 a pound while Liffe January robusta gained 1.3 per cent to $2,104 a tonne.
Despite worries about forward production, roasters have been relatively relaxed about sourcing future supplies. Analysts have pointed to comfortable levels of inventories.
According to the latest USDA report on Brazilian coffee data, private carry-over stocks at the end of March this year were at the highest in seven years.
Beans held by growers, coffee co-operatives, exporters, and roasters totalled 15.2m bags, up 9 per cent from the year before.
Source: ft.com/cms/s/0/8a6488c6-73d1-11e4-92bc-00144feabdc0.html#axzz3K4Bj9VRl
Keith Flury, head of coffee research at Volcafe, said that with delayed tree flowering – which will lead to the growth of coffee cherries currently under way – it would be mid to late-December when the trader would have a clearer view on production.
Both arabica and robusta prices rallied on worries about 2015 supplies, with ICE March arabica up 2.5 per cent to $1.955 a pound while Liffe January robusta gained 1.3 per cent to $2,104 a tonne.
Despite worries about forward production, roasters have been relatively relaxed about sourcing future supplies. Analysts have pointed to comfortable levels of inventories.
According to the latest USDA report on Brazilian coffee data, private carry-over stocks at the end of March this year were at the highest in seven years.
Beans held by growers, coffee co-operatives, exporters, and roasters totalled 15.2m bags, up 9 per cent from the year before.
Source: ft.com/cms/s/0/8a6488c6-73d1-11e4-92bc-00144feabdc0.html#axzz3K4Bj9VRl
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