Coffee Futures Surge Amid Tight Stocks

Arabica coffee futures climbed by 0.30% and robusta coffee rose by 0.44% due to shrinking stocks on the ICE exchange. Arabica inventories hit a 1.75-year low in November but recovered to a 2-month high in December. Robusta stocks fell to a 1-year low in December but rebounded this week. American buyers skipped Brazilian coffee earlier this year due to high tariffs, but US coffee supplies remain tight. Forecasts for bigger crops in Brazil and Vietnam are capping gains. The USDA predicts record global output for 2022-23, but ending stocks could drop and exports are down so far this year, creating a tug-of-war for prices. Checkout Solipillow.comThe Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.