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Barchart
Barchart
Rich Asplund

Coffee Prices Soar as Supply Risks Intensify

Ice Brazil United States Vietnam arabica Barchart FAs StoneX Strait of Hormuz

July arabica coffee (KCN26) on Thursday closed up +11.20 (+3.87%), and May ICE robusta coffee (RMK26) closed up +153 (+4.32%).

Coffee prices rallied sharply on Thursday and posted 4-week highs.   Concerns that a prolonged US-Iran war will keep the Strait of Hormuz closed and disrupt global coffee supplies are lifting coffee prices.  The closure of the strait has tightened coffee supplies by increasing global shipping rates, insurance, fertilizer, and fuel costs, and raising costs for coffee importers and roasters.  

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