World Market: May 13-27, 2011

摘要

Arabica coffee prices have eased slightly in the period under review, with New York futures backing off further from 14-year peaks reached in early May. Although some volatile moves could be observed, the July contract rose 2.3% over the two sessionsto May 18 before losing 4.0% over the next two sessions; overall volatility seemed limited compared with the period between mid-April and mid-May. Amid a lack of fresh fundamental news, the market mainly moved on speculative action, fund activity and development in outside markets. In contrast, robusta futures in London edged up in the two weeks to May 27 on strong roaster demand, dwindling stocks in Vietnam and expected lower production in Indonesia despite a continuous build-up of stocks in LIFFE-nominated warehouses. In mid-May, futures were hit by a wave of fund liquidation and the July contract lost 4.3% on May 16 to $2,473 per tonne, but recovered since then.