Global coffee news on August 29; excessive drought in Brazil could reduce productivity for next coffee crop

Published 2024년 8월 29일

Tridge summary

The article reports on the recent increase in coffee prices in the world market for November 2024 robusta delivery and December 2024 arabica delivery. The robusta price saw an 1.7% increase, reaching a 16-year high of 4,926 USD/ton, while arabica prices slightly increased by 0.5% to 256.45 US cents/lb, nearly reaching a 2.5-year peak. The article also discusses the potential impact of excessive drought in Brazil on coffee production and highlights efforts by the Colombian government to support farmers during a coffee rust outbreak through the introduction of rust-resistant coffee varieties. Additionally, it mentions Vietnam's coffee export turnover projection, aiming to surpass 5 billion USD and potentially reaching 6 billion USD, marking a record high. The article concludes by emphasizing the need for sustainable farming practices and innovative solutions to mitigate the effects of climate change on coffee supplies and the livelihoods of farmers.

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 for November 2024 delivery on the London floor increased by 80 USD, equivalent to 1.7% to 4,926 USD/ton, after reaching a peak of 4,952 USD/ton, the highest level in 16 years. The price of arabica for December 2024 delivery on the New York floor increased by 0.5% to close at 256.45 US cents/lb, just slightly lower than the 2.5-year peak in the previous session. Highlights: - Information about the excessive drought in Brazil could cause coffee trees to flower early, and reduce the yield of Brazil's next coffee crop. Some arabica coffee farms in Sao Paulo, Brazil, the country's third largest producing state, also had fires, but the damage was not much. - The Ministry of Agriculture and Rural Development forecasts that Vietnam's coffee export turnover in 2024 will certainly exceed 5 billion USD, and may even reach 6 billion USD - the highest level in history. - The coffee rust outbreak in Latin America from 2008 to 2011 caused coffee ...

Source: Vinanet