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Daily Report
Price updates from ICE [New York], London and Bangalore
Thursday August 28, 2008
| Futures Prices - 27.08.2008 |
| ICE (New York) US cents / lb |
London US $ / tonne and cents / lb in brackets |
| Month |
Price |
Prev. Price |
Month |
Price |
Prev. Price |
| Sep – 2008 |
143.80 |
143.70 |
Sep - 2008 |
2286 (103.69) |
2323 (105.37) |
| Dec – 2008 |
148.10 |
147.95 |
Nov - 2008 |
2322 (105.32) |
2358 (106.96) |
| Mar – 2009 |
151.75 |
151.60 |
Jan - 2009 |
2320 (105.23) |
2340 (106.14) |
ICO Daily weighted average price on 26.08.2008 and previous price in brackets (US cents/lb)
| Other Mild Arabica (N.Y) |
Robusta (N.Y) |
Exchange Rate Rs./ US $ |
| 150.16 (147.04) |
114.78 (112.10) |
43.73 |
| Futures Price Trend |
 |
|
 |
Differentials
| Ar.Plant.A |
Ar.Chy.AB |
Rob.Pmt.AB |
Rob.Chy.AB |
| NY +3 |
NY -22 |
LIFFE +700 |
LIFFE +70 |
ICTA Auction Prices Rs/Kg as on 21.08.2008
| Grade |
MNEB/AA |
PB |
A |
AB |
B |
C |
BBB |
| Arabica Plantation |
---- |
135.00 |
135.26 |
--- |
131.50 |
124.00 |
--- |
| Arabica Cherry |
--- |
--- |
---- |
124.00 |
---- |
--- |
91.00 |
|
RKR |
PB |
AA |
AB |
|
C |
BBB |
| Robusta Parchment |
--- |
--- |
--- |
--- |
---- |
---- |
---- |
| Robusta Cherry |
---- |
98.50 |
100.00 |
103.00 |
--- |
--- |
---- |
Raw Coffee Price (Karnataka) as on 25.08.2008 in Rs./50 kg
| Ara.Pmt |
Ar.Chy |
Rob.Pmt |
Rob.Chy |
| 5250-5400 |
2625-3000 |
5075-5100 |
2475-2500 |
| Export update: From 1st Jan to August 27, 2008 (in metric tonnes) |
| INDIAN COFFEE |
Ar.Pmt |
Ar.Chy |
Rob.Pmt |
Rob.Chy |
Instant |
Total |
| Provisional exports (Indian coffee) |
32667 |
6318 |
14765 |
68542 |
26955 |
149247 |
| Provisional exports corresponding period last year |
24336 |
8271 |
16575 |
65824 |
32679 |
147685 |
| Provisional re exports |
----- |
----- |
----- |
----- |
16032 |
16032 |
| Provisional re-exports corresponding period last year |
----- |
----- |
----- |
----- |
8681 |
8681 |
| Total provisional exports (1+3) |
32667 |
6318 |
14765 |
68542 |
42987 |
165279 |
| Total exports corresponding period last year (2+4) |
24336 |
8271 |
16575 |
65824 |
41360 |
156366 |
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Market Analysis
ICE arabica coffee futures closed slightly lower and near the session low on profit-taking pressure from recent gains and on some fresh origin selling at higher price levels. Higher crude oil prices did support buying interest in coffee futures the past two sessions. Trading volume was heavy Wednesday. December coffee closed down 30 points at $1.4765. LIFFE Sep settled down $37 at $2286/tonne while Nov settled down $36 at $2322/tonne.
Global: The potential for Hurricane Gustav damaging coffee stockpiles on the Gulf Coast is not yet factored into the market, at present. There was no serious damage to coffee stockpiles when Hurricane Katrina hit the region three years ago, so traders are not expecting any significant damage to stockpiles from Gustav.
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