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Coffee Sinks to 19-Month Low as Brazil Real Falls on Junk Rating


 

 

By Marvin G. Perez

     (Bloomberg) -- Coffee slumped to a 19-month low as further depreciation of the Brazilian real spurred speculation that the world`s top producer will step up output and exports.

     The price of arabica beans, the type favored by Starbucks Corp., slid as much as 4 percent Thursday to the lowest intraday since Jan. 29, 2014. Arabica for December delivery tumbled 3.9 percent to settle at $1.164 a pound at 1:33 p.m. in New York on ICE Futures U.S.

     The commodity is down 30 percent so far in 2015, a turnaround from last year when it surged 50 percent after a drought hurt Brazilian plantings. On Wednesday, Standard & Poor`s downgraded its sovereign credit rating for the country to junk with a negative outlook, sending the real to its lowest against the dollar in more than 12 years.

     The weaker currency will be negative for coffee prices, “as it has for some time, as it encourages more exports and possibly more production,” Paul Christopher, the St. Louis-based international strategy for the Wells Fargo Investment Institute, which oversees $1.7 trillion, said in a telephone interview.

     Currency devaluations this year in Colombia, Indonesia and Vietnam -- all major coffee producers -- also have raised expectations for additional supplies. Another factor weighing on coffee is the higher rainfall this year in Brazil.

     Ample rain in the next seven days across Brazil`s growing areas will probably spur more blooms for next harvest, said Kenny Miller, meteorologist at MDA Weather Services in Gaithersburg, Maryland. In Colombia, output may top a U.S.

government estimate as yields gain after plantations were rejuvenated, according to Roberto Velez, the chief executive officer of Colombian Coffee Growers Federation.

     “In general, there`s no good news, with the rain helping blooms and the Colombian crop story also putting pressure” on prices, Hernando de la Roche, senior vice president for INTL FCStone in Miami, said in a telephone interview.

 


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No

Specifications

Quant.
(mts)

Packing

Ship

Price (USD/MT)

1

Vietnam robusta coffee grade 2

5% black & broken

115.2

in bags

Jun/Jul - 16

Liffe Sep, 2016 +50   OR 1,710

2

Vietnam robusta coffee grade 1, scr.16

2% black & broken

115.2

in bags

Jun/Jul - 16

Liffe Sep, 2016 +95 OR 1,755

3

Vietnam robusta coffee grade 1, scr.18

2% black & broken

115.2

in bags

Jun/Jul - 16

Liffe Sep, 2016 +110 OR 1,770

4

Vietnam robusta coffee grade 1, scr.16

0.1% black

115.2

in bags

Jun/Jul - 16

Liffe Sep, 2016 +150 OR 1,810

5

Vietnam robusta coffee grade 1, scr.18

0.1% black

115.2

in bags

Jun/Jul - 16

Liffe Sep, 2016 +165 OR 1,825

6

Vietnam robusta coffee grade 1, scr.16

Wet polished

115.2

in bags

Jun/Jul - 16

Liffe Sep, 2016 +205 OR 1,865

7

Vietnam robusta coffee grade 1, scr.18

Wet polished

115.2

in bags

Jun/Jul - 16

Liffe Sep, 2016 +220 OR 1,880

Our offers are based on the following terms and conditions:                                                                               

-     Basic: FOB Vietnam main ports.

-     Payment terms: by L/C at sight or 30% in advance / 70% upon B/L copy receipt

-    Package: standard

-     Offers are subject cargo unsold and our final confirmation

-     The fix price change according to the time.                                        

 We thank you for your attention and expect to do business with you

No

Specifications

Quantity

Package

Ship

Price

Producer

(MTS)

(USD)

1

SVR CV50

40.32

SW

Jun/ Jul-16

1,670.0

VRG

2

SVR CV60

40.32

SW

Jun/ Jul-16

1,660.0

VRG

3

SVR 3L

40.32

SW

Jun/ Jul-16

1,610.0

VRG

4

Latex HA

105.0

In bulk

Jun/ Jul-16

1,170.0

VRG

5

SVR CV50

40.32

SW

Jul-16

1,385.0

Private

6

SVR CV60

40.32

SW

Jul-16

1,375.0

Private

7

SVR 3L

40.32

SW

Jul-16

1,330.0

Private

8

Latex HA

105.0

In bulk

Jun/ Jul-16

1,030.0

Private

9

Latex LA

105.0

In bulk

Jun/ Jul-16

1,045.0

Private

Our offers are based on the following terms and conditions:                                            

-    Basic: FOB Vietnam main ports.            

-    Payment terms: by L/C at sight or 30% in advance, 70% through fax/email documents.

-    Package: standard

-    THC, ENS fee and extra fees (if any) at loading port for Buyer’s account.

-   Offers are subject cargo unsold and our final confirmation

No

Specifications

Quantity

Package

Ship

Price

(MTS)

(USD)

1

Black Pepper (FAQ, 500g/l)

13.5

in bags

Jun -16

8,190.0

 Our offers are based on the following terms and conditions:

-    Basic: FOB Vietnam main ports.

-    Payment terms: 30% in advance / 70% upon B/L copy receipt

-    Package: standard

-    Offers are subject cargo unsold and our final confirmation

 We thank you for your attention and expect to do business with you.