Coffee Prices Decline Due to Brazilian Harvest Challenges
Monday, 29 July 2024, 15:51
Coffee Price Trends Amid Brazilian Harvest Pressures
September arabica coffee (KCU24) is down -1.30 (-0.56%), while September ICE robusta coffee (RMU24) has dropped -35 (-0.81%), leading to a decline in coffee prices to four-week lows.
Bearish Market Sentiment
The bearish sentiment in the market is primarily driven by:
- Brazil's 2024/25 coffee harvest expectations causing supply concerns.
- Recent reports from Safras & Mercado highlighting the potential yield increases.
Conclusion
As the situation develops, the coffee market will closely monitor Brazil's harvest outcomes, as any significant yields could exacerbate the downward trend in prices.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.