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Barchart
Barchart
Rich Asplund

Coffee Prices Settle Mixed on USDA Projections for Stronger Arabica and Weaker Robusta Production

March arabica coffee (KCH24) Friday closed down -0.90 (-0.53%), and Jan ICE robusta coffee (RMF24) closed up +54 (+2.17%).

Coffee prices on Friday settled mixed.  Arabica coffee was under pressure on signs of larger arabica coffee production after the USDA's Foreign Agriculture Service (FAS) on Wednesday projected Brazil's 2023/24 arabica production would climb +12.8% y/y to 44.9 mln bags due to higher yields and increased planted acreage.  The USDA's FAS also forecasts that 2023/24 coffee production in Colombia, the world's second-largest arabica producer, will climb +7.5% y/y to 11.5 mln bags.

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