Good morning,
It’s a chilly, cloudy morning here in the Northeast and we are bundling up for classic fall rainy chilly days
to come. Just finished the first cup of what Izwandi left us for office consumption. Time for a second.
Let us start with a small brag if we can? On Thursday morning Indonesian time, at the opening of the
36th annual Trade Expo Indonesia 2021 the recipients of the “Primaduta Awards” were announced and
lo and behold, Armenia Coffee Corporation was named as one of the recipients of the award. They cited
our trading with Indonesia since 1975 – something we are very proud of. We’re very lucky to work with
producers of really high-quality coffees from our partners in Indonesia. Coffees that are socially and
ecologically centered, something our customers care very much about. We are also very lucky to have
on staff our own Izwandi Rusli – who wears his love of his country on his sleeve for all to see. He
oversees what we do there, makes sure to communicate fully with our partners, especially during a
really difficult time finding shipping. It’s been vitally important. We hope to have the physical award
next month after they send it to officials/friends in DC to pass along to us. We can’t wait to share a
photo or two when we do.
An interesting week on the coffee market. The market ran out of upside momentum and consolidated
the gains of recent weeks. Volumes were really light until the end of the week when they picked up as
spec trading, we think mostly long liquidation, started to show up and the market tested and then
broke, support at 200.00. The market has been just shy of having the 5-day MA cross below the 21 day
MA which would likely bring in more spec selling.
The COT issued on Friday for trading as of Tuesday Oct 19 showed long specs sold 708 lots to come to
62909 lots long, short funds sold 245 lots to be 11420 lots short. Trade net sold about 1000 lots.
The Brazilian real has been fairly weak recently and continued during this week. Today it stands at
5.60503 and the Colombian Peso at 3761. ICE stocks ended the week at 1,911,834 with 42802 bags
pending grading. Market has corrected quite a bit over the last 2 weeks and we’re looking for a buy sign
from here.
Our Colombia and Brazil position very much replenished over the last few days and we have some nice
coffees there to offer you. We have some RFA coffee from Guatemala, Colombia, and Honduras in the
warehouse with some Natural Sidamo due early November.
Speaking of Indonesia – we have some really nice Bali Kintamani afloat now. We have a few bags left of
FTO Sumata from Ketiera a women’s focused co-op to offer as well.
How can we be of help today?
All the best,
The Armenia Team