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Barchart
Barchart
Rich Asplund

DARK SECRETS: Tighter ice inventories boost coffee prices - The Real Truth

Ice Brazil United States Cecafe Vietnam Conab FAs

December arabica coffee (KCZ25) today is up +15.75 (+4.50%), and November ICE robusta coffee (RMX25) is up +83 (+2.02%).

Coffee prices are sharply higher today.  The 50% tariffs imposed on US imports from Brazil have led to a sharp drawdown in ICE coffee inventories, a bullish factor for coffee prices.  ICE-monitored arabica inventories fell to a 17-month low of 615,903 bags on Tuesday.  ICE robusta coffee inventories fell to a 1.75-month low of 6,464 lots last Friday.  American buyers are voiding new contracts for purchases of Brazilian coffee beans due to the 50% tariffs imposed on US imports from Brazil, thereby tightening US supplies, as about a third of America's unroasted coffee comes from Brazil.

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