Global coffee prices hit a 13-year high, rising 8.9 percent in June from the previous month, the World Coffee Organization (ICO) said Friday.
The composite price index averaged 226.83 US cents (209.49 euro cents) per pound produced, equivalent to about 453 grams.
Inter alia, The price increase is linked to the market outlook.especially the possibility of poor harvests in Vietnam and Indonesia during the 2024/2025 coffee year, while that of Brazil may be lower than expected.
Colombian mild coffee rose 7.2% from a month earlier to 250.39 centavos (231.25 cents), and other milds rose 7% to 248.39 centavos (229.37 cents).
Brazilian natural coffee rose 9.3% in June to 229.25 cents per pound (211.72 cents), according to the ICO, amid rising coffee futures on the London (10.7%) and New York (8.4%) exchanges.
In May, world exports of green coffee beans amounted to 10.7 million 60-kilogram bags, an increase of 12% compared to the same month in 2023.
By region, exports from South America increased by 59.6% (5.54 million bags), those from Asia and Oceania decreased by 39.3% (2.42 million), those from Africa increased by 44.8% (1.74 million) and those from Mexico (1.74 million).
By region, exports from South America increased by 59.6% (5.54 million bags), those from Asia and Oceania decreased by 39.3% (2.42 million), those from Africa increased by 44.8% (1.74 million) and those from Mexico and Central America increased by 0.2% (2 million).
Source: Observadora
