Global coffee news on September 26: Colombia is looking to boost coffee exports to China

Published Sep 26, 2024

Tridge summary

The article reports on the fluctuation in coffee prices in the global market, with robusta futures for November 2024 seeing a 2.5% increase, and arabica futures for December 2024 experiencing a 0.5% rise. The price hike has concerned businesses and cooperatives about the availability of clean coffee supplies, especially in Vietnam. The article also highlights the potential impact of dry weather in Brazil on the coffee production for next year and celebrates Colombia's achievement in increasing its arabica coffee production by 15% for 2024, reaching 13 million 60kg bags. Furthermore, it notes a significant 82.9% increase in coffee exports from Uganda in August 2024, attributed to rising global prices.

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Original content

In the world market, the price of robusta futures for November 2024 on the London floor increased by 2.5%, closing at 5,446 USD/ton. The price of arabica futures for December 2024 on the New York floor increased by 1.3 cents, equivalent to 0.5%, to 269.1 US cents/lb, after reaching a 13-year high of 271.2 US cents/lb. Highlights: In the next 3 months, farmers in the Central Highlands, including Dak Nong, will start harvesting coffee. Due to fluctuations in coffee prices, businesses and cooperatives (HTX) are worried about the lack of clean coffee supply. Businesses are concerned that the price difference between regular coffee and clean coffee could make it difficult to purchase and sell. Harvesting unripe coffee could reduce clean coffee output and affect the reputation of Vietnamese coffee in the long term. - Dealers said dry weather in Brazil remains a major concern, which could impact next year's output. The impact on coffee is greater than on sugar because it is flowering ...

Source: Vinanet