https://sputnikglobe.com/20240404/global-coffee-prices-jump-to-highest-since-2008---market-data-1117732743.html
Global Coffee Prices Jump to Highest Since 2008 - Market Data
Global Coffee Prices Jump to Highest Since 2008 - Market Data
Sputnik International
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, ICE Futures data showed.
2024-04-04T10:47+0000
2024-04-04T10:47+0000
2024-04-04T10:47+0000
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coffee
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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. 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. 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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world price, robusta coffee, global coffee prices
world price, robusta coffee, global coffee prices
Global Coffee Prices Jump to Highest Since 2008 - Market Data
MOSCOW (Sputnik) - 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, 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.
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. 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.
