Financial Associated Press, April 12 (Editor Zhao Hao) Friday (April 12) the beginning of New York CityPokertablesetThe futures price of Robusta coffee beans set an all-time highPokertablesetAt the same time, American type C coffee futures are also strong, which is hard not to think of cocoa, which has recently been equally strong, and this agricultural product is also near its historic high.

The specific market shows that the futures price of Robusta coffee will rise by 2% in the next day.Pokertableset.7%, which is now quoted at US $3947 per ton, up nearly 39% in 2024; U.S. type C coffee futures surged 24% this month, the highest price since September 2022; and US cocoa futures rose 2% in the day.Pokertableset.6%, up 154% since the beginning of the year.

Robusta coffee beans are commonly used in instant coffee, and Vietnam is the largest producer in the world. As the high temperature has affected the production of local coffee beans, the market fears that the decline in production will exacerbate the shortage, bringing the futures price of Robusta coffee beans to a new high recently.

Do Ha Nam, chairman of Intimex Group, Vietnam's largest coffee exporter, said that although the country still has enough coffee beans to maintain exports for the rest of the season, some local farmers may continue to restrict sales, insisting on higher prices.

Although neither cocoa nor coffee beans are close relatives, hedge funds see cocoa opportunities in the coffee bean market. The Financial Associated Press has previously mentioned that fund managers increased their bullish bets on Arabica coffee futures to an all-time high in the week to April 2, according to the Commodity Futures Trading Commission (CFTC).

Peak Trading Research, a commodities research firm, estimates that more than 50000 contracts will be added to that level this week. "apart from the crazy cocoa market, there is hardly a fundamental narrative that fully supports coffee beans," said Ilya Byzov, a coffee trader at Sucafina. "

"it's a bit surprising that speculators are comparing cocoa to coffee," said Carlos Mera, an analyst at Rabobank. Market concerns about the supply of coffee beans for the next season are also growing, with Vietnam expected to remain dry for the next five days and irrigation water shortages could put pressure on production, according to a report by forecaster Maxar.

Mera of Rabobank points out that the EU Zero deforestation Act poses unpredictable risks to the coffee bean market, and the same applies to cocoa. The bill stipulates that palm oil, coffee, cocoa and other seven commodities exported to the European Union must ensure that they have nothing to do with deforestation, otherwise they will be banned.

In February, the European Coffee Federation warned that the implementation of the bill would affect millions of small coffee producers.