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

Published 2024년 10월 30일

Tridge summary

A report by GEP Costdrivers predicts a significant increase in coffee prices on the wholesale market in 2024, with a global rise of 24.67% due to high external demand and adverse weather conditions leading to a decrease in production. Brazilian production is projected to drop by 0.5% in 2024, but exports have increased by 40.1% from January to August of the same year. The price of both Arabica and Robusta coffee in Brazil has risen sharply over the past year, with further increases expected in 2024. Despite these challenges, global coffee harvest projections for 2024/25 are positive, with an increase in production, while consumption and final stocks are expected to grow at a slower pace.

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

Original content

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 ...

Source: Portal Do Agronegocio