November 2024 brought significant activity to the global coffee market, with prices showing dynamic movements across different coffee types. The latest International Coffee Organization (ICO) Indicator Prices report paints a vivid picture of the trends shaping this essential commodity.
Colombian Milds stood out this month, averaging an impressive 306.21 US cents per pound, maintaining their position as a premium choice for coffee consumers. Close on their heels, Other Milds recorded an average of 304.98 US cents per pound, further highlighting their strong market appeal. Brazilian Naturals followed at 285.59 US cents per pound, while Robustas—known for their affordability—averaged 226.11 US cents per pound.
Towards the end of the month, prices surged across all categories, with Colombian Milds peaking at 347.68 US cents per pound on November 28. Similarly, Brazilian Naturals and Other Milds recorded their highest prices during this period, reflecting robust global demand as the holiday season approached. Robustas, despite their price fluctuations, reached their lowest at 206.87 US cents per pound earlier in the month, underscoring their sensitivity to market changes.
This upward momentum highlights a blend of factors influencing the coffee market, from fluctuating production outputs in major coffee-producing regions to growing global demand. As the industry navigates these complexities, the trends observed in November provide a glimpse into the challenges and opportunities that lie ahead.
With December just beginning, the question remains: will this upward trend continue, or will the market adjust to more stabilized levels? For now, November 2024 has set a high benchmark for coffee prices, leaving industry stakeholders and coffee lovers alike eager to see what’s brewing next.