World: Coffee market on November 6, Brazil limits sales, causing prices on two exchanges to continue to recover

Published 2024년 11월 6일

Tridge summary

Coffee prices have seen a increase with robusta coffee for January 2025 delivery on the London floor increasing by 1.3% to 4,372 USD/ton, marking the second consecutive increase. Similarly, arabica coffee for December 2024 delivery on the New York floor increased by 1.7% to 250.15 US cents/lb. However, the coffee market is facing challenges with the Buon Ma Thuot Coffee Association predicting a decrease in the 2024/25 coffee crop in Dak Lak due to drought and water shortages. Additionally, coffee exports from Honduras, the world's leading arabica producer, have hit a historic low in August 2024. The production performance for the next year is expected to change due to the El Nino weather phenomenon. Colombia's coffee output is expected to recover, with a forecast of about 12.8 million bags. Domestic consumption is forecast to increase by 1.6% to an estimated 2.3 million bags. Central America and Mexico is forecast to increase by 6.4% from its record low in 2023/24.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In the world market, the price of robusta coffee for January 2025 delivery on the London floor increased by 1.3% to 4,372 USD/ton. This is the second consecutive increase with an increase of nearly 100 USD/ton of robusta coffee. The price of arabica coffee for December 2024 delivery on the New York floor increased by 1.7% to close at 250.15 US cents/lb, extending the market's recovery from a 2-month low of 241.4 US cents/lb in the last session of the week. Coffee futures price developments on exchanges Highlights: - The Buon Ma Thuot Coffee Association assessed that the 2024/25 coffee crop in Dak Lak could decrease by 5-10% compared to the previous crop, due to thousands of hectares of coffee suffering from drought and water shortages in the 2024 dry season. - Coffee exports from Honduras, the world's leading arabica producer, in August 2024 reached only 280,000 bags, down 30% year-on-year and 37.5% lower than the three-year average. For the entire 2023/24 crop, coffee exports are ...

Source: Vinanet