Coffee prices decline amid harvest progress and market volatility

Coffee markets experienced volatility and price declines recently. In São Paulo, Arabica coffee prices fell by 0.59% to R$ 1,804.65 per 60 kg bag, while Robusta coffee dropped 1.16% to R$ 1,062.69.

On the New York Stock Exchange, Arabica futures saw losses of over 1% as traders engaged in profit-taking following a previous session surge. The September contract closed at 359.15 cents per pound. Market movements are being influenced by the progress of the coffee harvest in the Cooxupé region, which has reached 81.1% completion due to favorable weather, though rainfall continues to pose risks to grain quality.

Other factors impacting the market include low ICE stocks, which are at their lowest levels in nearly three years, and the partial resumption of coffee exports from Colombia via the port of Buenaventura following a recent earthquake. Meanwhile, in the Brazilian market, crystal sugar prices rose by 0.22% in São Paulo, and corn prices saw a slight increase of 0.28%.