https://en.sputniknews.africa/20240404/1065914689.html
Global Coffee Prices Reach Their Highest Level Since 2008, Market Data Shows
Global Coffee Prices Reach Their Highest Level Since 2008, Market Data Shows
Sputnik Africa
MOSCOW (Sputnik) - In December 2023, the International Coffee Organization said that Arabica production increased by 1.8% to 94 million bags in the last crop... 04.04.2024, Sputnik Africa
2024-04-04T12:47+0200
2024-04-04T12:47+0200
2024-04-04T15:08+0200
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The world price of Robusta coffee hit an all-time high of $3,847 per tonne on Thursday, up 40% from the start of the year, Intercontinental Exchange (ICE) Futures data showed.After peaking, the price of Robusta declined slightly to $3,822. This price level has not been seen since at least the beginning of 2008, with no earlier data publicly available. Arabica coffee prices are also rising, reaching $2.078 per pound on Thursday, or $4,851 per tonne, the highest since September 2022, according to the data. This year, world coffee consumption is expected to grow by 2.2% to 177 million bags, with non-producing countries making the largest contribution to the total increase.Coffee prices could rise due to a drought in Brazil, media reported earlier. The lack of rain and above-average temperatures caused producers to harvest fewer Robusta beans than expected.
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brazil, coffee, international, prices, economy
brazil, coffee, international, prices, economy
Global Coffee Prices Reach Their Highest Level Since 2008, Market Data Shows
12:47 04.04.2024 (Updated: 15:08 04.04.2024) MOSCOW (Sputnik) - In December 2023, the International Coffee Organization said that Arabica production increased by 1.8% to 94 million bags in the last crop year, while Robusta showed a decrease of 2.0% to 74.2 million bags.
The world price of Robusta
coffee hit an all-time high of $3,847 per tonne on Thursday, up 40% from the start of the year, Intercontinental Exchange (ICE) Futures data showed.
After peaking, the price of Robusta declined slightly to $3,822. This price level has not been seen since at least the beginning of 2008, with no earlier data publicly available.
Arabica coffee prices are also rising, reaching $2.078 per pound on Thursday, or $4,851 per tonne, the highest since September 2022, according to the data.
This year, world coffee consumption is expected to grow by 2.2% to 177 million bags, with non-producing countries making the largest contribution to the total increase.
Coffee prices could rise due to a drought in Brazil, media reported earlier. The lack of rain and
above-average temperatures caused producers to harvest fewer Robusta beans than expected.
