World Market: Apr. 29-May 15, 2013

摘要

World arabica coffee prices have advanced in the period under review, rising above the $1.40/lb mark. Values closed at a two-month high on May 9 as investor short-covering and a bullish chart provided support to an otherwise well-supplied market. In mid-May, prices came off the two-month high after the second official estimate of the Brazilian 2013/14 (Apr/Mar) coffee crop by government forecaster Conab confirmed its potential to be the largest off-year crop on record. The benchmark July contract added 6.80 cents, or 5.1%, to end at 140.55 cents/lb, while the second-month September contract closed at 142.75 cents/lb, up 6.70 cents since April 29. Gains for London robusta futures were with roughly 2% more moderate than those recorded in New York. The most active July contract rose $44 to end at $2,054 per tonne on May 15. September advanced by $39 to finish at $2,070 a tonne.