Wholesale coffee may grow 24.67% in the global markets in 2024

Projections for the price of coffee on the wholesale market indicate a significant increase of 24.67% in 2024, both domestically and internationally. This growth is driven by high external demand and weather conditions that have led to a drop in production. Isadora Araújo, an economist at GEP Costdrivers, highlights that Brazilian production is expected to decrease by 0.5% this year. On the other hand, Brazilian coffee exports increased by 40.1% between January and August compared to the same period last year, highlighting an imbalance between supply and demand. The drop in production is mainly attributed to adverse weather factors, such as drought, irregular rainfall and high temperatures. Minas Gerais, for example, is expected to see a 3.27% reduction in production, while the states of Rondônia and Bahia are expected to see declines of 16.73% and 13.05% in robusta coffee production, respectively. As a result, domestic coffee prices have increased significantly over the past 12 ...