With the month of November complete, the usual round of export reports are coming to the fore, the Indonesian government trade data from Sumatra, the leading coffee producing island within Indonesia, has reported that the islands robusta coffee exports for the month of November were 355,327 bags or 70.80% lower than the same month last year, at a total of 146,857 bags. This contributes to the islands cumulative robusta coffee exports for the first two months of the current October 2021 to September 2022 coffee year to be 573,757 bags or 61.93% lower than the same period in the previous year, at a total of 352,684 bags

The Ivory Coast as west Africa’s leading robusta coffee producer, have reported that their coffee exports for the month of October were 59,050 bags or 74.64% lower than the same month last year, at a total of 20,067 bags. This has contributed to their country’s cumulative coffee exports for 2021 calendar year to be 554,317 bags or 55.12% lower than the same period last year, at a total of 450,300 bags.

The January 2022 to March 2022 contract arbitrage between the London and New York markets narrowed yesterday to register this at 129.79 usc/Lb. This equates to 55.87% price discount for the London Robusta coffee market. This wide arbitrage will likely be viewed by price sensitive roasters as an attractive alternative discount for robusta against the comparatively higher value arabica coffee.

The Certified washed Arabica coffee stocks held against the New York exchange were seen to remain unchanged yesterday, to register these stocks at 1,599,649 bags, with 95.57% of these certified stocks being held in Europe at a total of 1,528,749 bags and the remaining 4.43% being held in the USA at a total 70,900 bags. Of this, a total 769,624 bags, or 48.11% of the coffees registered and stored in consumer country certified warehouses of the exchange, Brazil washed arabica, and a further 45.42% of these certified coffees, originating from Honduras. There was meanwhile no change to the number of bags pending grading to the exchange; to register 97,394 bags pending grading on the day.

The Certified Robusta coffee stocks held against the London exchange have been reported to decrease by 35,333 bags over the week of trade leading up to Monday 29th. November to see these stocks registered at 1,782,000 bags, on the day.

It was a softer day on the commodity markets yesterday, in related speculative investor commodity market hesitancy in the wake of the reported rising rates of covid19 infections within primary northern hemisphere consumer economies, that has led to renewed graduated lockdown measures in some countries. The London Robusta Coffee markets ended the day on a firmer note, while the New York Arabica, Coffee, Sugar, Cocoa, Corn, Soybean, Wheat, Gold, Platinum, Palladium and Silver markets ended the day on a softer note. The day starts with the U.S. Dollar trading at 1.332 Sterling, at 1.133 the Euro and with the US Dollar buying 5.624 Brazil Real.

The New York market and London markets started the day yesterday trading near to par on a modest firmer note. Both markets were seen to gain momentum and trend firmer throughout the morning session. During the early afternoon session both the London and the New York markets attracted a degree of long liquidation pressure to see the markets drop back from the earlier in the day highs and set on a softer path for the afternoon session. The markets rebounded from the lows of the early afternoon session to see the New York market rally late in the day and settle near to unchanged for the day on a modest softer note, while the London market was seen to follow suite and settle on modest near to unchanged positive note at the close.

The London market ended the day on a modest near to unchanged positive note and with 5.55% of the gains of the day intact, while the New York market ended the day on a modest negative note and with 18.67% of the losses of the day intact. This mixed but overall softer close, with the markets settling near to unchanged for the day does little to indicate direction and one might think that the markets are due for little better than a hesitant start to early trade today, against the prices set yesterday, as follows:


LONDON ROBUSTA US$/MT                             NEW YORK USC/LB.

JAN 2260 + 2                                                           MAR 232.30 – 0.70
MAR 2200 + 3                                                         MAY 231.65 – 0.65
MAY 2174 + 4                                                         JUL 230.95 – 0.65
JUL 2173 + 4                                                           SEP 230.25 – 0.60
SEP 2172 + 4                                                            DEC 230.25 – 0.80
NOV 2176 + 3                                                         MAR 230.25 – 1.10
JAN 2182 + 1                                                           MAY 230.15 – 1.20
MAR 2184 Unch                                                      JUL 230.10 – 1.20