Europe Trend Week 09

All European markets still on a very positive trend.

The overall supply has continued to rise ever so slightly, remaining barely sufficient or even insufficient. On the one hand, the Africa/French West Indies supply has maintained stable, below-average levels (-16%) because of the FWI shortfall and only average African volumes (low Cameroonian supply offset by rise in Ivorian shipments). On the other hand, while Colombian volumes are back to a similar level to 2017 and the Costa Rican supply still seems above-average, the Ecuadorian supply has fallen, registering a below-average level.
Furthermore, despite the slowdown in sales observed on certain markets (France, Italy) because of the heat wave and snowfall, sales have remained decent and fluid, especially in Northern Europe. Hence overall spot market prices have remained high and above average for the season, maintaining the gap with contract prices.
In Spain, the market has remained well balanced, and prices have continued to improve. In Russia, the market has maintained a stable positive trend because of lively demand.