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Barchart
Barchart
Rich Asplund

Coffee Price Surge as ICE Inventories Shrink

Ice Brazil United States Cecafe Vietnam Conab FAs Somar Meteorologia

December arabica coffee (KCZ25) on Wednesday closed up +17.60 (+5.03%), and November ICE robusta coffee (RMX25) closed up +101 (+2.45%).

Coffee prices rallied sharply on Wednesday.  The 50% tariffs imposed on US imports from Brazil have led to a sharp drawdown in ICE coffee inventories, a bullish factor for coffee prices.  ICE-monitored arabica inventories fell to a 17.5-month low of 601,717 bags on Wednesday.  ICE robusta coffee inventories fell to a 1.75-month low of 6,464 lots last Friday.  American buyers are voiding new contracts for purchases of Brazilian coffee beans due to the 50% tariffs imposed on US imports from Brazil, thereby tightening US supplies, as about a third of America's unroasted coffee comes from Brazil.

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