Liffe Robusta coffee futures closed higher across the board on Wednesday 1st March 2017. May position closed at $2149 per tonne gaining $ 6 from the previous closing, while July position closed at $2165 per tonne gaining $ 5 from the closing of Tuesday.
The trade in Vietnam is already estimating that the country shall export between 2.3 million and 2.7 million bags of mostly Robusta coffees during the month of March.
This forecast in terms of the limited competition from Indonesia ahead of the start of their new Robusta coffee harvest.
ICE Arabica coffee futures closed higher across the board on Wednesday due to industry buying.
May position closed at US cents 144.80 per lb gaining US Cents 2.20while July position closed at US cents 147.15 per lb gaining US Cents 2.25 from the closing of Tuesday.
The dip in coffee exports from Costa Rica for this coffee year in terms of the downgraded new crop estimates by the National Coffee Institute was not unexpected, with the country now forecasting coffee exports for the coffee year, which might be little better than 1.1 million bags.
According to Uganda Coffee Development Authority, in terms of regional coffee supply, as with the larger players Honduras, Guatemala and Mexico estimated to have had larger new crops, the coffee supply from the producer bloc of Mexico and Central America is still estimated to be approximately 1.3 million bags higher for the present coffee year, from a regional crop of in excess of 18 million bags.
