ICE Arabica coffee futures fell to a five-month low
December 26-ICE Arabica coffee futures fell to their lowest level since the end of July in trading volatility on Friday as traders closed their accounts and long positions ahead of the New year, while raw sugar and cocoa futures also fell.
Trading in ICE's US soft commodities market was light on Friday after the Christmas holiday market was closed on Thursday. European ICE coffee, cocoa and sugar markets remain closed and trading will resume on Monday.
ICE Arabica coffee fell to a five-month low of $1.6775 a pound in March, settling down 1.55 cents, or 0.9%, at $1.686 a pound.
The Arabica coffee market fell for the fourth day in a row, with contracts falling 3.5 per cent in recent months this week, the biggest weekly decline since early December.
Selling pressure intensified after falling below support near the key psychological barrier of $1.70.
The Arabica coffee season is set to fall by more than 50 per cent by the end of the year, soaring to a two-and-a-half-year high in early October on fears of drought damage to Brazilian crops, the largest grower.
March raw sugar futures closed down 0.06 cents, or 0.4%, to an one-week low of 14.70 cents a pound, falling for the fifth day in a row and down 2% this week.
This year, raw sugar futures are bound to fall for the fourth year in a row.
New York March cocoa futures hit an one-week low of $2935, settling down $23, or 0.8%, at $2941 a tonne.
ICE cocoa futures fell 1.3% this week, the biggest weekly decline since mid-November.
This year, cocoa futures prices are expected to rise for the third year in a row.
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College graduates create Ningxia version of "Garage Coffee" to build a dream for entrepreneurs
Entrepreneurs communicate in the Bisheng Entrepreneurship Cafe in the 801 Entrepreneurship Incubator of the Northern University for nationalities (photo taken on December 24). The garage coffee, which is located in the west of Zhongguancun in Beijing and is famous for its gathering place for Internet entrepreneurs, has attracted attention from all walks of life. In fact, near the Northern University for nationalities in Ningxia Hui Autonomous region, it was founded by several graduates of the university and put into operation this year.
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Analysis on the Development trend of domestic Coffee Industry in Chinese Coffee Industry Market
From the analysis of coffee production and consumption at home and abroad, we can see that the supply and demand of coffee in the world is basically balanced, but the supply of high-quality products still exceeds the demand. In order to meet the needs of the market, the foreign coffee growing industry tends to develop high-quality small-grain coffee. The demand for coffee in the domestic market is increasing, and there is a large gap between supply and demand. Therefore, our country still needs to import coffee raw materials and coffee products every year to meet the needs of the market. Yunnan
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