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Barchart
Rich Asplund

Coffee Prices Settle Higher as Shipping Costs Soar

May arabica coffee (KCK26) on Monday closed up +3.85 (+1.37%), and May ICE robusta coffee (RMK26) closed up +148 (+4.08%).

Coffee prices settled sharply higher on Monday, with robusta posting a 2-week high.  Supply concerns are supporting coffee prices, as the war in Iran has halted most shipping traffic through the Strait of Hormuz, boosting global shipping rates, insurance, and fuel costs, which will raise costs for coffee importers and roasters.

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