Global Coffee Market Weekly Summary: Key Updates for May 26, 2024
- Colombia: A new market-based purchase guarantee system for coffee farmers links prices to NYSE coffee prices, exchange rates, and Colombian premiums, with quality incentives. Prices for a 125-kg load stand at 1,683,000 Colombian Pesos, with performance-based adjustments. Regional price variations range from 13,451 Colombian Pesos per kilogram in Cucuta to 13,481 in Santa Marta.
- Brazil: 2024 coffee revenue is forecasted to reach a record 60.99 billion Brazilian Reals, a 23.8% increase from the previous year, driven by Coffea Arabica and Canephora. Gross Value Added calculations reflect economic contributions based on yields and producer prices.
- Indonesia: Coffee production is expected to recover to 10.9 million 60-kg bags for 2024-25, thanks to favorable weather in robusta-rich Sumatra. Rising domestic consumption, supported by economic growth and improved distribution, is projected to boost green coffee exports despite regulatory challenges like the EU's Deforestation-Free Regulation.
- Global: Bangladesh has increased coffee cultivation due to supportive conditions and government backing, though monoculture risks biodiversity. The EU Deforestation-Free Regulation is accelerating coffee shipments worldwide, highlighting regulatory impacts on trade.
For a more in-depth analysis, visit the CropGPT website, offering extensive data on crop health, weather patterns, pricing trends, and market insights.
