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Barchart
Barchart
Rich Asplund

Supply Concerns Lift Coffee Prices

Ice Arabica Brazil FAs

May arabica coffee (KCK26) on Thursday closed up +2.55 (+0.89%), and May ICE robusta coffee (RMK26) closed up +17 (+0.46%).

Coffee prices settled higher on Thursday, with arabica climbing to a 2-week high.  Supply concerns lifted prices on Thursday after Brazil's Trade Ministry reported that Brazil's Feb coffee exports fell -17.4% y/y to 142,000 MT.  Also, the war in Iran has halted shipping through the Strait of Hormuz, boosting global shipping rates, insurance, and fuel costs, which will raise costs for coffee importers and roasters.  Thursday's strength in the dollar ($DXY) limited the upside in coffee prices.

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