March arabica coffee (KCH26) today is down -5.30 (-1.38%), and January ICE robusta coffee (RMF26) is down -47 (-1.03%).
Coffee prices are sliding today after the European Parliament approved a 1-year delay to the deforestation law, which should keep global coffee supplies ample. The EU regulation, known as EUDR, aims to tackle deforestation in countries whose imports into the EU include key commodities such as soybeans, coffee, and cocoa. The delay of the regulation will allow EU countries to continue importing agricultural products from regions in Africa, Indonesia, and South America where deforestation is occurring.
