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Barchart
Rich Asplund

Coffee Prices Soar as EU Deforestation Regulations Threaten Coffee Supplies

Ice European Union Arabica Brazil Deforestation Vietnam USDA Cecafe Minas Gerais the International Coffee Organization

December arabica coffee (KCZ24) today is closed up +9.35 (+3.44%), and January ICE robusta coffee (RMF25) is up +147 (+3.17%).

Coffee prices today added to this week's sharp rally, with arabica posting a 13-year nearest-futures high and robusta posting a 1-month high.  Coffee prices surged today on potential supply concerns following the European Parliament's moves to seek further changes to its deforestation regulations.   If the EU cannot agree on changes to the rules before next month's deadline, the EU Deforestation Regulation will be implemented, which could curb supplies of coffee from countries such as Brazil and Indonesia, where deforestation is rampant.

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