{"id":21533,"date":"2024-12-06T13:00:19","date_gmt":"2024-12-06T13:00:19","guid":{"rendered":"https:\/\/www.selinawamucii.com\/news\/?p=21533"},"modified":"2024-12-06T13:00:20","modified_gmt":"2024-12-06T13:00:20","slug":"market-prices-of-coffee-rise-and-fall-from-weather-trade","status":"publish","type":"post","link":"https:\/\/www.selinawamucii.com\/news\/2024\/12\/06\/market-prices-of-coffee-rise-and-fall-from-weather-trade\/","title":{"rendered":"Market prices of coffee rise and fall from weather, trade"},"content":{"rendered":"\n

Market prices of coffee returned down to earth briefly on December 2 to a 14-day low after scoring a\u00a047-year high<\/u><\/a>. But by December 5, they had rebounded sharply due to multiple factors including trade and weather forces.<\/p>\n\n\n\n

Arabica in New York rose by\u00a03.23%<\/u><\/a>\u00a0while Robusta in London by 2.62%, attendant to drought reports from Brazil and Vietnam. <\/p>\n\n\n\n

The fall in prices earlier on December 2 in their part had owed to technical rather than market movements.<\/p>\n\n\n\n

Technically, the International Coffee Exchange (ICE) has lately reduced the timeline traders can tie a huge amount of capital to coffee while awaiting price improvement. This in turn has prompted pressure to sell overdue futures, increasing market sales and therefore low prices.<\/p>\n\n\n\n

Hence, Robusta on December 2 nose-dived to a 3-week low, even as Arabica staged a 2-week low.<\/p>\n\n\n\n

Intraday futures for the 2nd<\/sup>\u00a0of December put coffee at $3.12 per pound versus its November 29th<\/sup>\u00a0high of $3.36. \u00a0Regarding this last figure, Reuters correlates this highest price since 1977 as equivalent to\u00a0$17.68<\/u><\/a>\u00a0today at the 1977 rate.<\/p>\n\n\n\n

By the 5th<\/sup>\u00a0of December however, Arabica coffee prices had improved slightly by 2.17% to settle at a strong\u00a0$3.12 a pound.<\/u><\/a>\u00a0<\/p>\n\n\n\n

Monetary factors favoring price strength include the weakening of the dollar, which is bearish on the market.<\/p>\n\n\n\n

Equally bearish is a weak Brazilian real for it encourages Brazilian exports as the weak rate converts to more local cash. This leads to ample international supplies and hence weak prices.<\/p>\n\n\n\n

Market factors favoring the rise of coffee price in their part include uncertainty on the harvests in major producers. In Brazil, poor weather has occasioned Arabica depletion while in Vietnam a similar scenario threatens Robusta supplies.<\/p>\n\n\n\n

On the flip side, market factors weakening the price include positive announcement of ample coffee stock. Vietnam<\/u><\/a>, for instance, on December 2 announced a 2024-25 stock at 28 million 60-kg bags, a million bags above earlier predictions. <\/p>\n\n\n\n

In a word, weather and trade factors have been pushing market prices of coffee up and down. For more on the weather effect on coffee pricing, read on the statistics below.<\/p>\n\n\n\n

Statistics on Weather Effect on Market Prices of Coffee<\/strong><\/strong><\/h2>\n\n\n\n

1977, 1997 and 2024 stand out in the annals of coffee as the worst years because drought brought price repercussions. \u00a0<\/p>\n\n\n\n

In 1977,  the horn of Africa witnessed extreme dry conditions, cutting supplies.  International coffee prices went on to hit an unprecedented $3.13 <\/u>a<\/u> pound<\/u><\/a> in March 1977.<\/p>\n\n\n\n

In 1997, effects of the El Ni\u00f1o combined with the earlier drought of\u00a01995\/96<\/u><\/a>\u00a0in the coffee-producing horn of Africa. They cut supplies and international prices of the commodity skyrocketed. The global average of\u00a0$2.57 a pound\u00a0<\/u><\/a>in May 1997 was the highest price since the early 1990s.<\/p>\n\n\n\n

In the 2024 case, drought concerns mainly the Amazonian forests of Brazil and the highlands of Vietnam. Affecting 60%<\/u><\/a> of the country, Brazil endures the worst dry spell since the record-keeping started in 1950. As a result, supplies were down in December, prompting coffee to trade at its highest point in almost 50 years.  This explains why the price as of December 5, 2024 was still at a record high of $3.12 a pound.<\/p>\n","protected":false},"excerpt":{"rendered":"

Market prices of coffee returned down to earth briefly on December 2 to a 14-day low after scoring a\u00a047-year high. But by December 5, they had rebounded sharply due to multiple factors including trade and weather forces. Arabica in New York rose by\u00a03.23%\u00a0while Robusta in London by 2.62%, attendant to drought reports from Brazil and…<\/p>\n","protected":false},"author":3,"featured_media":18200,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"yoast_head":"\nMarket prices of coffee rise and fall from weather, trade - Selina Wamucii | Food & Agriculture News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.selinawamucii.com\/news\/2024\/12\/06\/market-prices-of-coffee-rise-and-fall-from-weather-trade\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market prices of coffee rise and fall from weather, trade - Selina Wamucii | Food & Agriculture News\" \/>\n<meta property=\"og:description\" content=\"Market prices of coffee returned down to earth briefly on December 2 to a 14-day low after scoring a\u00a047-year high. 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