Global coffee market on November 26: Arabica prices hit a 47-year high as supply tightens

게시됨 2024년 11월 26일

Tridge 요약

The article reports on the increase in coffee prices in the global market for January 2025, with robusta price increasing by 2.5% to $5,110/ton and arabica price increasing by 0.9% to 304.8 US cents/lb on the New York exchange. The price increase is attributed to tightening supplies, with some farmers in Brazil withholding sales for tax reasons and due to expectations of further price increases. However, the expected arabica crop in Brazil is not developing as well as anticipated due to previous dry weather. Additionally, heavy rains in Costa Rica have destroyed nearly 15% of the country's annual coffee production, costing growers about $45 million. Speculators have increased their net long positions in both arabica and robusta during the recent rally, and Vietnam's crop is at its peak with potential for improved forecasts. The International Coffee Organization reported a significant increase in global green coffee exports in the 2023/24 coffee year.

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원본 콘텐츠

In the global market, the price of robusta for January 2025 on the London exchange increased by 2.5% to $5,110/ton. The price of arabica for March 2025 on the New York exchange increased by 2.7 cents, equivalent to 0.9% to close at 304.8 US cents/lb, after peaking at 311.25 US cents/lb, the highest level since the early years of trading coffee futures in the 1970s. Highlights: - Traders said supplies were tightening with some farmers in Brazil holding back sales for tax reasons and also in hopes of further price increases. They also noted that next year's arabica crop in Brazil is not developing as well as many had expected, with recent rains failing to reverse damage from previous dry weather. - Heavy rains in Costa Rica have triggered a national emergency and destroyed nearly 15% of the Central American country's annual coffee production, costing growers about $45 million, according to estimates from coffee institute ICAFE. Rains indirectly caused by Hurricane Rafael and ...

출처: Vinanet