As of Monday, the market value of arabica coffee reached more than $3.55 per pound, a surprise catching speculators betting on a price decline off guard, according to Daily Forex, a website for broker information and market analysis.
The uptrend continues, fueled by large players; however, despite reaching record levels, the rally has been gradual rather than volatile, suggesting continued buying power, the analysis added.
The speculative price range for arabica this week is $3.37-3.59 per pound, Daily Forex forecasted.
Arabica has been rising in price on the world market every month since April 2024. Its price in September reached $6,000 per tonne, for the first time since September 2011. In November, the cost of arabica rose by almost 30%, and since the beginning of December it has added another 8%, exceeding the $7,500 per tonne mark during trading, a record high since April 1977.