News

Domestic and international coffee prices reached new highs this April 11

Coffee Drinks
Colombia
Market & Price Trends
Published Apr 12, 2024

Tridge summary

On April 11, Colombia witnessed a significant rise in coffee prices, reaching their highest levels in months, with the internal reference price peaking at $1.63 million since June 9, 2023, and the external price on the New York Stock Exchange climbing to US$2.17, the highest since October 11, 2022. This increase marks a recovery in the coffee sector, which faced challenges earlier in 2023 due to fluctuating international prices and the peso's revaluation. Contributing to this recovery, coffee production in March rose by 8% year-over-year to 866,000 bags, and exports increased by 11%. The sector's rebound is largely attributed to the El Niño Phenomenon, which brought reduced rainfall, resulting in drier conditions that are more conducive to coffee production.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The internal prices of coffee in Colombia and its price in international markets reached peaks on April 11 that had not been recorded for several months. On the one hand, the internal reference - which closed at $1.63 million - was the highest since June 9, 2023 when it ended at $1.66 million. Meanwhile, the external price of coffee on the New York Stock Exchange reached a value of US$2.17, something that had not been seen since October 11, 2022, according to information from the National Federation of Coffee Growers (FNC). . Colombia's coffee sector seems to be showing signs of recovery compared to the 2023 results that were challenging, not only due to international prices - as these were marked by a revaluation of the peso that left less income for the activity - but also due to improve in production. Latest coffee indicators in Colombia Regarding production, the Federation recently revealed that in March the country produced 866,000 bags of coffee, that is, 66,000 more than in ...
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