Brazil Robusta Offers Are at Premium to NYSE Liffe, Broker Says
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9 de fevereiro de 2024
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18 de abril de 2024Offers for robusta coffee from Brazil, the world’s second-largest producer of the variety, are at a premium to prices on the NYSE Liffe exchange as demand gains, according to Flavour Coffee.
“The week started with a great demand from exporters and roasters,” the Rio de Janeiro-based broker said in a report e- mailed yesterday. “Offers are all at premiums over Liffe.”
Robusta for shipment in June and July was offered at a discount in the previous week, data from the brokerage showed.
Harvesting of the beans in the South American country is “still behind the ideal pace,” Flavour Coffee said. Rains last month slowed down pickings in the states of Espirito Santo, Brazil’s main robusta producer, and Bahia.
“Arrivals of new crop are not available in the market, probably because local merchants and producers are delivering their previous commitments rather than making new sales,” the broker said.
Robusta for July delivery rose $13, or 0.5 percent, to $2,524 a metric ton by 11:52 a.m. on NYSE Liffe in London. The beans are up 20 percent this year and touched a three-year high on March 18.
Vietnam is the world’s biggest grower of robusta beans, used in instant coffee and espresso. Brazil is the largest global coffee producer when output of the arabica variety also is included.
