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The average arbitrage in November, as measured on the New York and London futures markets, rose by 17.8% to 62.05 US cents/lb
The average arbitrage in November, as measured on the New York and London futures markets, rose by 17.8% to 62.05 US cents/lb Stocks of certified Arabica increased  by 8.6% to 1.52 million bags  in December  2020,  which is the  third  consecutive month  of increase.  Certified  Robusta stocks amounted to 2.31 million bags, 3.1% higher than in November 2020.
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The volatility of the ICO composite indicator price increased by 1.9 percentage points to 8.4% as the volatility for all Arabica indicators increased, while the volatility for Robusta prices was 6.1%, unchanged from November  2020.  The volatility  for Colombian  Milds rose  by 2.4 percentage points  to 8.6%, for Other Milds by 2.2 percentage points  to 9.2%. and for Brazilian Naturals  by 2.8 percentage points to 12.2% in December 2020.Global exports in November 2020  reached 10.15  million bags, which represents an increase of 5.7% compared to November 2019.  Robusta shipments totalled 3.31 million bags, 10.7% lower than in November 2019 when they reached  a record 3.7 million bags. Shipments  of Arabica rose by 16% to  6.84  million  bags.  Brazilian Naturals  saw  the  largest  increase,  growing  29.9% to 4.21 million bags, reflecting  the on-year Arabica crop from Brazil. Colombian Milds increased  by 3.6% to 1.32 million bags, as exports  from Colombia grew by 8.8% to 1.26 million bags despite lower production  in November 2020 compared  to November 2019. However, shipments of Other Milds fell by 5.1% to 1.3 million bags as exports  from Honduras dropped  48% to 55,500 bags.   In the first two months of coffee year 2020/21, total exports were 6.5% higher at 20.2 million bags, compared to 18.97  million bags for the same period last year. Shipments  for all groups declined   except   Brazilian  Naturals,  which  rose  by  23.1%  to  8.31  million  bags.  Exports  of Colombian Milds decreased by 4.5% to 2.48 million bags, Other Milds fell by 5% to 2.75 million bags,  and  Robusta  declined  by 1% to  6.66  million  bags.  This growth  came  primarily  from shipments of green  Arabica, which reached  12.56 million bags, 11.9% higher than  the first two months  of coffee year 2019/20. Green Robusta exports  increased  by 1.1% to 5.79 million bags. In contrast,  exports of roasted  coffee from producing countries  fell by 5.5% to 103,800 bags, and shipments of soluble coffee decreased by 8.2% to 1.75 million bags.

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