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Rich Asplund

BIZARRE: Tight global supplies support coffee prices - What They Never Told You

Ice ICO International Coffee Organization Brazil Vietnam the US Climate Prediction Center USDA FAS

Dec arabica coffee (KCZ23) on Monday closed up +2.95 (+2.01%), and Nov ICE robusta coffee (RMX23) closed down -1 (-0.04%).

Coffee prices on Monday settled mixed. Tight global coffee supplies support prices after the International Coffee Organization (ICO) on September 14 reported that global coffee exports during Oct-Jul were down -5.7% y/y at 103.736 mln bags. Also, the Colombian Coffee Growers Federation reported on August 9 that Colombian July coffee exports fell -17% y/y to 846,000 bags. Colombia is the world's second-largest producer of arabica coffee beans. However, Honduras, the largest coffee-producing country in Central America, reported on July 31 that its coffee exports rose +63% y/y in July to 828,499 bags.

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