Futures Market News
Coffee futures climb
Mar 17, 2011 12:42 PM
Dutch coffee trader Nedcoffee states the globe's largest producer of robusta beans shipped 40,000 metric tons of the commodity during the first third of March.
Bloomberg reports Vietnamese exports might rise 9.4 percent to 1.28 million tons during 2011. Coffee prices in the Southern Asia nation have increased as high as 46,500 dong ($2.23) per kilogram, which exceeds a record price from the mid 1990s.
"Due to this high price of coffee, financial difficulties appear, so most of the coffee exporters in the country have only bought and exported about 30 to 40 percent of the annual plan for 2010-11," according to a report from Nedcoffee.
At 2 p.m. on Thursday, coffee futures were up 2.09 percent, a .0555 cent increase to $2.709 per pound.
Robusta coffee beans are used for instant coffee and espresso. The commodity primarily is harvested in Asia and areas of Africa. Arabica beans primarily are grown in Latin America and typically used for specialty beverages. One large buyer of Arabica beans is Starbucks, the world's biggest coffee company.
Don’t Miss Our News Updates!
Share dt News:
Follow our breaking news stories and get a unique take on current events that may impact the commodity futures markets. Multiple new articles are posted each weekday. Subscribe to our commodity news updates by email, and receive real-time updates with our RSS feed, follow us on Twitter @DanielsTrading, become a fan on Facebook to stay informed.
SPECIAL OFFER: Insider Market Advisory FREE Trial
Information is power. Gain an edge with daily commodity futures market updates!
With your free trial membership, you’ll receive full access to trade analysis and recommendations for various markets, daily fundamental and technical market overviews, future price outlooks, and more!
Special Offer
Register for Your Free 2-Week Trial of the dt Insider Market Advisory!
With your free trial membership, you'll receive full access to our exclusive trade recommendation service and all of the timely and accurate trade information you need to feel comfortable participating in the markets.
