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Barchart
Barchart
Rich Asplund

Coffee Supply Fears are Boosting Prices

Ice Arabica Robusta Brazil FAs the Strait of Hormuz

May arabica coffee (KCK26) today is up +8.60 (+2.86%), and May ICE robusta coffee (RMK26) is up +20 (+0.55%).

Coffee prices are extending this week's rally today, with arabica posting a 1.5-month high and robusta posting a 1.5-week high.  The closure of the Strait of Hormuz has disrupted global shipping, tightened global supplies, and is supporting coffee prices.  The closure of the waterway has increased global shipping rates, insurance, and fuel costs, and raises costs for coffee importers and roasters.  Robusta coffee also has support from tighter inventories, as ICE robusta inventories fell to a 2-month low of 4,257 lots today.

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