Coffee Remains Steady As Growers Await Crop
US Coffee has been relatively stable this week with prices ranging between 182.00 and 186.25. The price spiked earlier this year after Brazil’s crops were hit by a drought and a coffee fungus and there is still a large amount of uncertainty over the next year.
Counteracting the problems in Brazil is the fact that many international roasters say that the current supply fits the demand and they are well stocked. Furthermore, before this year’s crop flowers, which should happen in the next six weeks, it is very hard to predict what the situation will be next year.
Because of this it seems likely that coffee prices should stay relatively steady over the next few weeks. If this year’s crop turns out to be viable then prices should drop lower; however, if the crop has been seriously affected then future prices will rise.