Bulk Food Ingredient Supplier Brazilian Coffee Export Prices Surge in Early 2024

DATE:   March 19,  2024

Brazilian coffee export prices are currently high, with green coffee exports from Brazil increasing significantly in February. The February exports saw a 58% rise year-on-year to 3.38 million 60 kg bags. This growth highlights the attractiveness of the Brazilian market compared to others, according to data from the industry group Cecafe. The total coffee shipments for the first two months of 2024 reached 7.11 million bags, showing a 52% increase from the same period last year. The surge in robusta coffee exports in February was particularly notable, as stated by Cecafe’s president Marcio Ferreira. Shipments of arabica coffee also saw a substantial 36% year-on-year increase to 2.8 million bags.

Brazilian robusta coffee remains highly competitive in the global market, compensating for the production shortfalls in major producers like Vietnam and Indonesia. Despite geopolitical tensions affecting shipping in the Red Sea, Brazilian coffee exports have not faced disruptions. However, there are concerns about rising freight prices, port congestion, and vessel delays globally.

In February, 75% of coffee shipments from the port of Santos were rescheduled or delayed, partly due to increased cotton shipments. The total coffee shipments from Brazil in February, including roasted and soluble coffee, amounted to 3.626 million bags, marking a 49% increase from the previous year, valued at $757.3 million.

All top 10 buyers of Brazilian coffee increased their purchases in the first two months of the year, indicating a growing demand for the product. The US was the leading importer in January and February, followed by Germany and Belgium. Notably, coffee shipments to Mexico significantly rose, and China maintained its position in the ranking, reflecting the rising consumption of coffee in the country.

Lakeside Food Sales Inc is a bulk food ingredient supplier and distributor. Due to many of our products being Food and Agricultural Commodities, we closely monitor various reports offered by product manufacturers and data, analytics and climate conditions that are released by various world organizations. This data often provides insights into pricing for raw material for raw food ingredients that we supply to clients.

The content and viewpoints shared in this presentation were crafted by Lakeside Food Sales Inc. It contains forward-looking statements grounded in anticipated future events, yet remains subject to risks and uncertainties. Lakeside Food Sales, Inc. does not guarantee the accuracy of the content shared within, as this data was derived from various reports and briefings published by one or more industry resource and/or government agencies or world organizations.