Tuesday 23 July 2024
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Robusta prices hit a new record as harvesting advances, reports Cepea

Price increases are related to the limited global supply of robusta coffee, due to unfavorable weather conditions in Vietnam, the major world producer of this variety. In spite of recent price rises, there were only a few sellers operating in the spot market in mid-June in Brazil

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SAO PAULO, Brazil – Prices of robusta coffee moved up again in Brazil in early June reports Cepea in its most recent update. On June 6, the CEPEA/ESALQ Index for the robusta coffee type 6 closed at BRL 1,247.17 per 60-kilo bag, a new record of Cepea series, which started in November/2001 – quotations were deflated by the IGP-DI May/24.

On June 17, specifically, the Index closed at BRL 1,195.94/bag, for an increase of 4.07% compared to May 31.

Price increases are related to the limited global supply of robusta coffee, due to unfavorable weather conditions in Vietnam, the major world producer of this variety. In spite of recent price rises, there were only a few sellers operating in the spot market in mid-June in Brazil.

Players are focused on the 2024/25 coffee harvest. In Espírito Santo, biggest robusta producer in Brazil, players surveyed by Cepea say that circa 40% of the production had been harvested. The quality of the beans has been good so far. In Rondônia, another important producing state, the harvest is more advanced, with only 25% left to be harvested.

Prices of arabica coffee also rose in the Brazilian market, and liquidity increased a little.

The CEPEA/ESALQ Index for the arabica coffee type 6, delivered in São Paulo, closed at BRL 1,348.56 per 60-kilo bag on June 17, 4.86% up in relation to that on May 31.

Producers were also focused on the harvest and on separating the batches to accomplish contracts.

Although the crop is expected to have a considerable volume in Brazil (arabica and robusta), the harvest beginning has not presented good results for arabica.

Up to the first week of June, the arabica harvest has started to gain pace in Brazil, favored by the dry weather.

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