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Barchart
Barchart
Rich Asplund

Coffee Prices Push Higher on Global Supply Concerns

May arabica coffee (KCK26) today is up +4.05 (+1.40%), and May ICE robusta coffee (RMK26) is up +31 (+0.83%).

Coffee prices are climbing today, with arabica posting a 3-week high and robusta posting a 2.5-week high.  Global supply concerns are boosting coffee prices as the war in Iran has halted shipping through the Strait of Hormuz, increased global shipping rates, insurance, and fuel costs, which will raise costs for coffee importers and roasters.  Also, coffee prices have positive carryover from Thursday when Brazil's Trade Ministry reported that Brazil's Feb coffee exports fell -17.4% y/y to 142,000 MT.

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