Coffee Prices

Coffee prices averaged USD 256 cents per pound in October, down 0.7% from September. On 31 October, the commodity traded at USD 251 cents per pound, down 7.8% from 30 September.

The price downtick was largely due to easing drought concerns in Brazil, a weaker Brazilian real and the EU’s recent decision to delay by a year its ban on imports from deforested areas. That said, coffee prices received support from concerns over longer-term damage to Brazilian output and tight global inventories.