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Cepea, March 4, 2024 – Arabica prices remain fluctuating significantly in both domestic and international markets. In Brazil, the CEPEA/ESALQ Index for arabica coffee type 6 has started February above BRL 1,000 per 60-kilo bag; however, it went down below this level in some days at the end of the month.
On February 29, the CEPEA/ESALQ Index for arabica coffee type 6 closed at BRL 1,007.27 per 60-kilo bag, for a decrease of 1.07% in the accumulated of the month.
This trend has been pushing players away from trades in the spot market, especially producers – the volume of trades is low even when prices are moving up.
Many coffee growers consider that the price level in late February was low and they were unwilling to trade. Players surveyed by Cepea say that a good amount of 2023/24 coffee is in stock; therefore, sellers plan to trade only if necessary.
On the other hand, the market may gain pace in the next months due to the 2024/25 harvest. For the time being, agents have good expectations, but the weather will be essential for a good development of the crops. In general, the current rainfall on producing regions has been positive.
(Cepea-Brazil)
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Fonte: Cepea