Monthly analysis of the coffee market in Brazil - December 2023 by Rabobank

Rabobank presents the monthly report on movements in the coffee market in Brazil, prepared by market analyst Guilherme Morya. Despite recent logistical problems at the Port of Santos, Brazil's coffee exports showed positive results, reaching 4.3 million bags in November, an increase of 15% compared to the previous year. In 2023, exports recovered, remaining just 3% below 2022. The excellent performance of conilon shipments stands out, with an increase of 678% in November compared to the previous year. The exchange ratio in December also improved, with 2.1 bags of coffee needed to buy 1 ton of fertilizer. Despite the recent appreciation in Arabica coffee prices in the domestic market, fertilizer prices have seen a slight drop in the last 30 days. Domestic Arabica coffee prices continue to rise, reaching an average of BRL 954/bag in December, an increase of 7% compared to November. The report addresses concerns about the climate in Brazil, low certified stocks in New York and ...