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Barchart
Rich Asplund

Coffee Prices Rally Sharply as Global Supplies Dwindle

Ice Brazil arabica United States ICO Minas Gerais USDA

May arabica coffee (KCK23) on Wednesday closed up +5.30 (+3.03%), and May ICE robusta coffee (RMK23) closed up +60 (+2.66%).

Coffee prices Wednesday closed sharply higher, with arabica posting a 1-week high and robusta posting a 7-1/2 month nearest-futures high.  A decline in global coffee exports sparked fund buying of coffee futures Wednesday after the International Coffee Organization (ICO) reported global coffee exports from Oct-Feb fell -8.7% y/y to 48.66 mln bags.

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