Coffee Prices

Coffee prices averaged USD 258 cents per pound in September, up 6.3% from August. On 30 September, the commodity traded at USD 270 cents per pound, up 11.6% from 30 August.

September’s price uptick was largely due to prolonged concerns over Brazil’s supply. Recent rains in the key producing region Minas Gerais likely failed to alleviate the impact of the country’s worst drought in over 40 years on crops; Brazil’s agricultural agency, Conab, cut its 2024 production forecast in September.