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Market Update 17/02/2023

We've decided to change how we deliver news to you each week. Going forward we'll be posting regular weekly updates on the coffee markets, hopefully allowing you to make more informed decisions on purchasing going forward.

We'll still be delivering relevent coffee news to you, but will do so as stories break so that the information is more current when you receive it.


Coffee prices continued to increase across the week. With both arabica (+3.5%) and Robusta (+1.5%) achieving moderate gains across the course of the week by market close on Thursday in New York and London respectively.

The arabica KCH23 March contract reached a high of 184 USC/lb on Tuesday in New York, before heavy liquidation on Wednesday on the part of traders holding short positions as they took profits. Last minute origin selling ahead of the final notice day for March contracts added further pressure to prices. Despite losing a little under 9 USC/lb because of the sell-off, prices recovered over the following days to close at 180.95 USC/lb overnight in New York.

Robusta prices continued to trade within a relatively narrow band for the week, with the RMH23 March contract settling at USD $2,068/t overnight in London. Robusta prices have now recovered around 80% of the value lost since coffee markets plunged last October.

Coffee prices in general are still finding support from the recent heavy rains in Minas Gerais which has delayed the application of fertilisers and pesticides to coffee plantations. This has led to a few of reduced yields for the next harvest in a region that accounts for 30% of Brazil’s total coffee volume.

Smaller global coffee exports are also supporting prices, with the International Coffee Organization (ICO) reporting that October - December global coffee exports fell 2.8% year-on-year to 30 million bags. Brazil’s Council of Coffee Exporters – Cecafe, echoed this sentiment, reporting that green coffee exports for January were down 18.5% year-on-year at 2.5 million bags.

In other notable producing countries, exports from Guatemala, the second-largest coffee producer in Central America, fell 8% year-on-year; exports from Colombia, the world's second-largest producer of arabica coffee beans, fell 19% year-on-year; and Vietnam coffee exports fell 27.7% year-on-year for January.


The information contained in this blog is intended to be general in nature and should not be taken as constituting professional financial advice. It does not take into account your objectives, financial situation or needs. We recommend seeking independent financial advice before acting on any of the information contained within.

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