Good morning and happy Tuesday to all.
Hope all of our friends are staying warm and keeping safe. Cold weather dominating the country even in places that rarely see it. It’s making things hard for many and we hope you are OK. Yet another challenge thrown at us.
The coffee market continued it’s sideways push remaining stuck in the range without much to comment here. Disaggregated COT issued Friday Feb 12 for trading up to Feb 9th showed funds 43350 lots long (- 495) and 20546 lots short (+2060) so they net/net sold a few lots but nothing much substantial for the 2 nd week in a row.
Brazil coffee exports dropped 9% year on year in January to a monthly total of 3.15 million bags and was expected.
We’re noting a problem in Indonesia with shipping containers, or more correctly the lack of shipping containers, causing shipping rates to go sky high for the moment. Rates have doubled and tripled, where you can get a container to ship with, and sources there say this could continue at least in the near term. Anyone who has to ship something quickly will have this problem.
On a plus note, “One cup of coffee a day reduces the risk of heart failure” or so says Northwestern University researchers.
The weather around the country has immediate shipping slowed down a bit. If we can be of help, please let us know.
All the best,
The Armenia Team