Bullish
Coffee prices surge as global inventories hit 2.5-year low amid Brazil harvest delays.
Over the past 24 hours, coffee prices have experienced a significant increase, reaching their highest levels in two weeks. This surge is primarily driven by a substantial decline in certified coffee inventories on the ICE Futures Exchange, which have fallen to their lowest point in nearly two and a half years. Additionally, concerns over the progress of the coffee harvest in Brazil, the world's largest producer, have further tightened supply expectations.
Key points
- Certified coffee inventories on the ICE Futures Exchange have decreased to 292,810 bags, the lowest level since February 8, 2024, indicating a tightening global supply.
- The coffee harvest in Brazil is facing delays due to recent rainfall, raising concerns about the timely availability of beans.
- The Indonesian government has allocated an additional Rp5.9 trillion (US$317 million) to strengthen vocational training programs, including the National Internship Programme (MagangHub), aiming to enhance workforce competence and competitiveness.
Sources
AI-generated from public news sources. Not financial advice.
