The futures price on the two coffee exchanges was pressured by a continuous selling liquidation of the futures long position which was near the historical peak (approx. 47 thousands 10-mt lots ) and by the selling price fixation of the forward contracts in the physical market against May robusta coffee London before the first notice day (FND May London).
The markets bounced back strongly on the last trading hour of the two exchanges on Friday 28 April 2017.
The domestic price of Vietnamese robusta coffee basis grade 2, max. 5% black and broken beans consequently went up from VND43,500 pkg to ard VND44.000 pkg over the weekend, which is equivalent to near the level of London closed price at US$1946 pmt basis July trading month. Export price of Vietnamese grade 2, max. 5% black and broken beans is offered at plus US$30 pmt to compare with minus US$30 by 10 days previously.
PHẠM KỲ ANH