Volatile scenario: arabica coffee records a drop of 1.21% throughout the week

The Arabica coffee futures market ended Friday with technical adjustments for the main contracts on the New York Stock Exchange, after opening the day with price appreciation. May/24 led the falls with a drop of 90 points, worth 182.95 cents/lbp, with the reference contract accumulating a drop of 1.21% throughout the week. This correction comes against a backdrop driven by support from London and continued concern about global Robusta supply.

On the London Stock Exchange, the conilon type presented a different scenario, advancing this Friday. The contracts appreciated, with emphasis on May/24, which saw an increase of US$ 31 per ton, traded for US$ 3308. This appreciation counteracted the downward trend observed in NY, resulting in a weekly accumulated increase of 0.33%.

In Brazil, the physical coffee market followed suit and ended with devaluation in the main sales areas. Highlight is the type 6 hard drink bica race, which had drops in Guaxupé/MG, Poços de Caldas/MG and Machado/MG. However, Guaxupé/MG registered a small increase in the value of the peeled cherry type, while Poços de Caldas/MG saw a slight drop in the same type of coffee. Patrocínio/MG and Varginha/MG maintained stability in their prices.

Source: Notícias Agrícolas