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    Published

    09/25/2024, 13:54

    The Arabica price reached the highest since 2011 due to the drought

    Arabica coffee prices on the ICE Futures exchange have climbed to a record high since 2011. According to Bloomberg, December futures for coffee beans increased by 3.3%, reaching $2.68 per pound (about $5.9 per kilogram). Since the beginning of the year, the Arabica price has grown by about 40%.

    The main reason for the sharp rise in prices was the unfavourable impact of dry weather in Brazil, the world's largest coffee producer. The heat and lack of moisture have damaged fields, leading to lower expected yields.

    "The potential for the 2025/26 Arabica crop is at risk. This comes at a moment when the coffee industry is facing port congestion, a global container shortage and disruptions in the Red Sea area,” Rabobank analyst Carlos Mera said.

    Brazil experienced a similar situation a few years ago when frost and drought also hit the crop. At the end of 2021, coffee prices already reached record highs for the last 10 years.
     

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