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Barchart
Barchart
Rich Asplund

Coffee Prices Finish Sharply Higher as EU Regulations Threaten Supplies

Ice European Union Brazil Vietnam the USDA FAS Barchart Cecafe Deforestation Minas Gerais the International Coffee Organization

December arabica coffee (KCZ24) Thursday closed up +7.30 (+2.69%), and January ICE robusta coffee (RMF25) closed up +145 (+3.13%).

Coffee prices on Thursday added to this week's sharp rally, with arabica posting a 13-year nearest-futures high and robusta posting a 1-month high.  Coffee prices surged Thursday on potential supply concerns after the European Parliament voted to change its deforestation regulations.   If the EU cannot agree on changes to the rules before next month's deadline, the EU Deforestation Regulation will be implemented, which could curb supplies of coffee from countries such as Brazil and Indonesia, where deforestation occurs.  The EU's Deforestation Regulation measure, known as EUDR, says companies must ensure the products they bring into the EU weren't made in areas deforested or degraded after 2020.

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