World coffee exports down in June
The General Department of Vietnam Customs reports coffee exports from Vietnam in June 2020 decreased by 11.5% compared with June 2019 and amounted to 127.7 thousand tons. In the first half of the year, coffee exports from Vietnam increased by 2.2%. However, it is difficult to say how steady this trend is. The US Department of Agriculture predicts a 3.5% decrease in the total coffee crop in this country in the 2020/21 agricultural season. CeCafe reported a 9.8% year-on-year decline in green coffee exports from Brazil in June to 2.47 million bags (60 kg). Note that the current coffee harvest in Brazil may be hampered by drought in the state of Mina Gerais. IHCAFE announced a decrease in coffee exports from Honduras in June by 29.6% compared to last year – to 652 thousand bags (60 kg), also due to drought. The total coffee harvest in Honduras may decline by 4.5% this year.
Summary of technical analysis
|Buy stop||Above 104|
|Stop loss||Below 94|
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