Soaring Coffee Prices Reach Multi-Decade Highs

Soaring Coffee Prices Reach Multi-Decade Highs

The International Coffee Organization's April 2024 market report reveals a significant surge in coffee prices, with the Composite Indicator Price (I-CIP) reaching an average of 216.89 US cents per pound, marking a 16.4% increase from the previous month. This price point is the highest in 13 years. Additionally, the price of Robusta beans achieved its highest level in 45 years at 193.65 US cents per pound. The report also highlights a general upward trend in the prices of various coffee types, including Colombian Milds and Other Milds. Green bean exports saw a notable increase of 9.4% compared to the previous year, with Brazilian Naturals showing the most significant rise of 19.0%. The report also details fluctuations in exports from different regions, with South America recording a substantial 33.1% increase in exports. This spike in coffee prices and changes in export dynamics reflect significant shifts in the global coffee market.

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