Weekly report – Brazilian Coffee Market – Mar 07 ~ 11, 2022 - Atlantica
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Weekly report – Brazilian Coffee Market – Mar 07 ~ 11, 2022

by Mar 11, 2022Market report0 comments


KCNY and Currency

The world continues to follow the Russian invasion. The geopolitical tensions extend and continue to bring instability to the markets. The coffee market remained unstable during the week and the Real strengthened, reaching quotations below R$ 5.00.

• Starbucks announced this week the suspension of its activities in Russia;

• The minister of agriculture Tereza Cristina will propose at FAO (Food and Agriculture Organization of the United Nations) that fertilizers are not included in the sanctions against Russia for food security reasons. Argentina, Bolivia, Chile, Paraguay and Uruguay support the idea; 

• Petrobras announced yesterday ( March 10th) the increase of fuel and cooking gas prices, reflecting the increases in oil quotations due to the conflict between Russia and Ukraine;

• ICE certified stocks in NY closed Thursday at 1,021,976 60-kg bags; 

• Putin has confirmed advances in the negotiations with Ukraine, indicating possibilities of ending the conflict; 

May/22: Min: 221 | Max: 235,90 | Last: 223,55
BRL/USD: Min: 4,9853 | Max: 5,1012 | Last: 5,0210
*Data as of the completion of this report


WEATHER

The warm air mass – that began to act since February 20th in the southeast region – was the main meteorological phenomenon in the first week of March, resulting in high temperatures in the afternoon and preventing the arrival of cold fronts. 

For the next week, the forecast is for a weakening of the warm air mass and a first cold front of March arriving in the Southeast region, which should cause moderate rains in the South, Cerrado and Mogiana regions.

Rain forecast for next week:

  • Sul de Minas region: between 40 and 50 mm;
  • Zona da Mata region: between 10 and 20 mm;
  • Cerrado region: between 35 and 45 mm;
  • Garça region: between 15 and 20 mm;
  • Alta Mogiana region: between 40 and 50 mm.

DOMESTIC MARKET and FOB

Local market without much liquidity reflecting the Real appreciation and the NY “ICE” down movements. 

Strictly soft good cup running screen: seller close to R$ 1.300,00;
Strictly soft fine cup running screen: seller close to R$ 1.350,00;
Rio Minas 17/18: R$ 1.300,00 and running screen with 30% low grades near to R$ 1.180,00;
600 defects: buyer near to R$ 1.240,00;

FOB market with little demand and few deals reported.


LOGISTICS

The main destinations in Asia, Europe, and in the Americas continue to face space restrictions. Mainly in Europe, due to the redirection of cargo originally destined for Ukraine. Due to the shortage of space within March, negotiations for freight for the second trimester of the year should already be concluded.


COVID-19 IN BRAZIL

People who received the first dose: +174.176.738 (81,08% of the population)
People fully vaccinated: +157.257.686 (72,3% of the population)
Cases: + 29.247.838 million
Deaths:  65.646

Let’s continue believing and investing in the coffee culture!
Atlantica Coffee Team


FRAUD ALERT

Fraudsters have created accounts at the domains atlanticacoffeee.com (with 3 letters “e”), atlanticacoffees (plural) and atlantlcacoffee (using the lowercase of L instead of the letter i) and for the prefixes using the names of our employees, even imitating our signatures. They are quoting coffee, issuing invoices with altered payment data, mostly to banks in Hong Kong, which we are not ours! Please be aware of the sender of the messages and always question instructions to change bank details!

Our only official e-mail domain is: atlanticacoffee.com