Source: Agricultural News
The quotations of the Arabica coffee futures market ended the session on Thursday (29) with appreciation above 300 points for the main contracts on the New York Stock Exchange (ICE Future US). After Starbucks, it was Nestlé's turn to show an increase in coffee demand and support high prices abroad.
September / 20 recorded an increase of 375 points, worth 115.35 cents / lbp, December / 20 rose 375 points, traded by 118.25 cents / lbp, March / 21 recorded an appreciation of 355 points, traded by 119.90 cents / lbp and May / 21 was up 345 points, worth 120.80 cents / lbp.
During the trading session this Thursday (30th), Nestlé SA announced that it overcame rivals in difficulties in consumer goods by reporting higher sales amid strong demand for coffee in home offices. According to a Bloomberg publication, the first half's multi-national revenue increased 2.8% on an organic basis, the meal maker at Lean Cuisine said on Thursday. Analysts had expected 2.3%. 3
>>> Nestlé surpasses rival with coffee-led revenue growth
The data also indicates that sales of Starbucks brand coffee products increased by more than 10%, while Nespresso had a half-digit growth. "The worldwide blockages that closed restaurants and cafes have led to an increase in domestic coffee consumption and increased demand for robusta beans, which are normally favored in the manufacture of coffee at home," highlighted the international website Barchart in its daily analysis.
>>> Robusta coffee on the way to the highest monthly gain in a decade
In addition to the heated demand, Haroldo Bonfá - an analyst at Pharos Consultoria, Haroldo points out that information about a possible vaccine in the fight against Covid-19 also helps to support price increases in New York. "The thousands of news that the new vaccine should come out soon helps the market a lot", he comments.
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