Global coffee prices fall 3.2% in October after anti-deforestation law is halted

Published 2024년 11월 7일

Tridge summary

In October, world coffee prices experienced a 3.2% decrease from September, following the European Union's decision to delay the implementation of its anti-deforestation rule until the next year. The World Coffee Organization reported that the composite coffee price index for the month was 250.56 US cents per pound, which is a 64.9% increase from October 2023's level. Despite the price drop, the demand for coffee remains strong, as shown by a 25.2% increase in world exports of green coffee beans in September compared to the same month in 2023. Additionally, sales of Brazilian natural coffee and robusta type coffee have seen significant growth.

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Original content

World coffee prices fell 3.2% in October compared to September after the European Union (EU) decided to delay the entry into force of its anti-deforestation rule for this and other commodities. The World Coffee Organization (ICO) has indicated that its composite coffee price index has averaged 250.56 US cents (232.35 euro cents) per pound produced, equivalent to about 453 grams. After a year of continuous price increases, ICO has explained that the EU's decision to postpone the application of the regulation for a year has influenced the fall in prices, also motivated by the depreciation of the Brazilian real against the dollar. However, the price of coffee remains 64.9% above the level recorded in October 2023. The price of Colombian mild coffee has fallen by 0.8% monthly, to 277.1 cents (256.82 cents), and that of other mild coffees has fallen by 0.6%, to 276.82 cents (256.55 cents). In September, world exports of green coffee beans totaled 9.69 million 60-kilo bags, which is ...

Source: PEefeagro