Robusta was supported as roaster supplies tightened amid slow farmer selling from Vietnam, the top producer of the variety, said Carsten Fritsch, an analyst at Commerzbank AG in Frankfurt. The country's exports were estimated at 80,000 tons in November, down 34 percent from the same time last year, the General Statistics Office said yesterday. Vietnam will harvest 28 million bags in 2013-14, matching the record, according to Olam International Ltd.
Robusta coffee continues to rebound following an accelerated decline in October and is closing its overextension relative to the 200-day MA. A break in the short-term progression of higher reaction lows, currently near $1550, would be required to question potential for additional upside. (Also see Comment of the Day on November 5th).Back to top