Coffee Market Report

The Coffee Exporters Association of Brazil, Cecafé, has released its latest figures for coffee exports in August 2024. Brazilian green coffee exports showed a modest increase of 1.4% compared to the same month last year, reaching a total of 3.4 million bags. Exports of Arabica coffee registered a decline of nearly 7% year-on-year, shipments of Arabica totaled approximately 2.49 million bags. Robusta coffee exports reported at an increase of 31% when compared to the same time last year, to reach 925,000 bags.

The Certified washed Arabica coffee stocks held against the New York exchange were seen to increase by 3,867 bags yesterday, to register these stocks at 850,554 bags, with 97.75% of these certified stocks held in, Europe at a total of 831,395 bags and the remaining 2.25% being held in the USA at a total 19,159 Bags. Of this, a total 396,818 bags, or 46.65% of the coffees registered and stored in consumer country certified warehouses of the exchange, are Brazil washed arabica, and a further 12.15% of these certified coffees, from Honduras. The pending grading stocks were seen to decrease by 2,031 bags; to register 56,471 bags pending grading on the day.

The November 2024 to December 2024 contract arbitrage between the London and New York markets widened yesterday, to register this at 25.08 Usc/Lb. This equates to 10.15% price discount for the London robusta coffee.

It was a firmer day on the commodity markets yesterday. The Coffee, Wheat, , Silver, Platinum and Palladium markets ended the day on a firmer note, the Gold market was little changed on the day, while the Cocoa , Corn, Soybean, and Sugar market ended the day on a softer note. The day starts with the U.S. Dollar trading at 1.309 Sterling, at 1.104 the Euro and with the US Dollar buying 5.663 Brazil Real.

The London market ended the day on a firmer note with 6.32% of the earlier gains of the day intact, while the New York market ended the day, on a likewise firmer note, with 30.77% of the earlier gains of the day intact, to set the close, against the prices set yesterday:

LONDON ROBUSTA US$/MT                 NEW YORK USC/LB.

NOV       4897 + 6                                       DEC       247.20 + 1.80
JAN        4681 + 5                                       MAR      244.80 + 1.35
MAR      4488 + 2                                       MAY      242.45 + 1.10
MAY      4359 + 1                                       JUL        239.75 + 0.95
JUL        4256 unch                                     SEP       236.95 + 0.70
SEP        4183 – 4                                        DEC      233.60 + 0.55
NOV      4122 – 4                                        MAR     230.10 + 0.45
JAN       4024 – 4                                        MAY      226.70 + 0.45