Week Sees Coffee Prices Surge Amid Global Supply Concerns
- Julhyana Veloso Nunes
- Jul 15, 2024
- 1 min read
Updated: Jul 16, 2024

The week was marked by significant concerns over global coffee supply, resulting in new highs in the New York and London markets. Despite the Brazilian harvest being in full swing, prices reached record levels. In New York, September 2024 contracts rose by 390 points, closing at 248.75 cents/lb, with December 2024 and March 2025 also seeing substantial increases. Similarly, in London, September 2024 advanced by $41 per ton, with future contracts up to March 2025 also showing strong gains.
Brazil, the world's leading coffee exporter, announced a record export of 47 million bags for the 2023/24 cycle, reinforcing its global market importance. Despite this significant volume, prices continued to rise, indicating robust demand and a continued reliance on Brazilian coffee by other producing regions. Analysts point out that Brazil's high shipments reflect not only demand but also production issues in other areas. Lúcio Dias highlighted that Brazilian shipments increased by 35%, underscoring the global need for the country's coffee.
Domestically, the Brazilian physical coffee market mirrored international trends, recording appreciation in major trading hubs. In Guaxupé/MG, type 6 hard bean coffee rose by 2.10%, while Poços de Caldas/MG, Machado/MG, and Campos Gerais/MG also saw notable increases. The peeled cherry type followed the same pattern, with Guaxupé/MG registering a 2% rise and other regions showing significant value increases. These movements reflect the impact of global dynamics on the domestic market and the expectation that prices will remain high until the start of the Vietnamese harvest in November.
Source: Notícias Agrícolas
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