Guatemalan coffee exporters worry about potential decrease of European consumption.

On 28 February, Arabica coffee futures on ICE closed at USD 2.35 per pound, its lowest since 27 January. The main reason for this is the geopolitical conflict between Russia and Ukraine that might affect European coffee consumption but it is too early to predict if prices will keep decreasing. Arabica coffee global supply is still at its lowest for the last 20 years amid ongoing containers crisis and covid-19 pandemic but Brazil’s production for 22/23 season is expected to recover after climate change events from last year. There is uncertainty about coffee prices but Guatemalan exporters expect that low global supply can keep prices high and European consumption will not get affected by the Russia and Ukraine conflict.