Every Friday, Perfect Daily Grind rounds up the top coffee industry news from the week.
It seems like market volatility won’t be calming down anytime soon. After closing at US $5,180/tonne last week – the highest level in 16 years – London robusta futures slumped by 5.5%. Low stocks in key producing countries like Brazil and Vietnam guarantee more price uncertainty, made worse by the impact of unfavourable weather conditions on upcoming harvests.
Traders also continue to rush shipments ahead of the impending EUDR in December, which will likely only contribute further to this perfect storm. Exports from Brazil have surged by 65% in the last seven months compared to 2023 figures, with Ugandan exports at an all-time high in July.
At a time when traders are facing more challenges than ever before, locking down shipments before strict legislation comes into effect seems wise. But ultimately, dealing with the EUDR will become a reality sooner rather than later for everyone in the coffee supply chain. Roasters and traders will have no choice but to adapt.
Photo credits: The Barista League
Want to keep up with current affairs in the coffee industry? Check out last week’s coffee news stories and make sure to read the latest Coffee Intelligence News & Opinion piece on why Breville’s record sales are part of ongoing market consolidation.
Passionate about music and coffee, not necessarily in that order. He has been writing about both, and many other things, since 2005.
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