The National Coffee Growers Federation in Colombia have also reported that the country’s coffee exports for the month of October were 170,000 bags or 14.04% lower than the same month last year, at a total of 1,041,000 bags. The National Coffee Growers Federation in Colombia have reported that the country’s coffee exports at the end of 2020 calendar year are expected to reach between 12.7 million and 13.4 million bags, this number slightly below the 13.6 million bags exported during the 2019 calendar year
The new crop harvest in Vietnam is soon to start in Mid-November, albeit slightly delayed in their seasonal year, due to a continuation of rain through October and the beginning of November across the coffee growing areas, with the effects of Typhoon Molave triggering widespread rain over the coffee belt that is expected to persist over the next few days. So long as the rain subsides in the coming weeks the harvest may be expected to peak by the second half of this month.
The December 2020 to January 2021 contract arbitrage between the New York and London markets widened yesterday: to register this at 45.24 usc/Lb. This equates to 42.70% price discount for the London Robusta coffee market.
The Certified washed Arabica coffee stocks held against the New York exchange was seen to increase by 7,854 bags yesterday, to register these stocks at 1,160,439 bags, with 94.1% of these certified stocks being held in Europe at a total of 1,091,480 bags and the remaining 5.9% being held in the USA at a total 68,959 bags. There was meanwhile a larger in number 9,000 bags decrease to the number of bags pending grading for this exchange; to register these pending grading stocks at 67,504 bags.
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