International coffee prices maintain high as harvest season in Guatemala ends

Most of the coffee produced in Guatemala is harvested between December and March. As harvest season ends, prices for the May 2022 contract closed at USD 2.20 per pound on 18 March. Even though prices are not as reasonable as prices in January and February, prices are still high and have increased compared to the past few weeks. The US National Coffee Association announced last week that coffee consumption had reached its highest level for the past two decades, and specialty coffee demand has increased at home and also outside as Covid restrictions eased. Guatemalan producers and exporters are optimistic as planting season approaches, and they expect prices to maintain above USD 2 per pound during the next harvest season.