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Barchart
Rich Asplund

Coffee Prices Retreat as Global Supplies Increase

Ice Brazil ICO International Coffee Organization Vietnam USDA

July arabica coffee (KCN24) on Friday closed down -5.35 (-2.60%), and July ICE robusta coffee (RMN24) closed down -139 (-3.78%).

Coffee prices Friday extended this week's sharp decline and posted 1-month lows.  An increase in global coffee supplies is undercutting prices after the International Coffee Organization (ICO) on Friday reported that global Mar coffee exports rose +8.1% y/y to 12.99 million bags and Oct-Mar global coffee exports are up +10.4% y/y at 69.16 million bags.  

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