Harvest season supply increases; July Brazilian coffee powder price drops for the first time in 18 months

According to the Brazilian website "osaogoncalo," the National Broad Consumer Price Index for July showed that the price of coffee powder in Brazil fell by 1.01% month-on-month. Over the previous 18 months, the price of coffee powder had cumulatively increased by 99.46%, almost doubling. With the price drop in July, the cumulative increase in coffee powder prices for the year stands at 41.46%, and over the past 12 months, it has increased by 70.51%. The high annual increase in the price of this product has made it the second-largest contributor to the rise in the National Broad Consumer Price Index for the period, contributing 0.3 percentage points, second only to meat (which contributed 0.54 percentage points). Analyst Fernando Gonçalves from the National Institute of Geography and Statistics stated that the drop in coffee powder prices in July was mainly influenced by the harvest season, not the additional tariffs imposed by the United States on Brazilian products. He pointed ...