COFFEE Analysis: World coffee exports down in June

July 20, 2020

By IFCMarkets

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.

Indicator VALUE Signal
RSI Neutral
MACD Buy
MA(200) Neutral
Fractals Neutral
Parabolic SAR Buy
Bollinger Bands Buy

 

Summary of technical analysis

Order Buy
Buy stop Above 104
Stop loss Below 94

Market Analysis provided by IFCMarkets


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