Will Arabica Coffee Bean Prices Continue to Rise This Year? Latest Arabica Coffee Prices

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Due to the impact of the global pandemic, coffee bean transportation ships have also been restricted, and producers' costs for coffee cultivation have increased. Additionally, with the popularization of the specialty coffee market, the demand for specialty coffee beans has grown higher. Under these various circumstances, the price of Arabica coffee beans naturally rises. According to ICO data, Arabica coffee bean prices continued to rise in January of this year. Whether this upward trend will continue remains to be observed.

2021 Arabica Coffee Bean Prices Continue to Rise

According to the ICO composite index data published by the International Coffee Organization, the indicator prices for all Arabica coffee beans were 0.9% higher than in December 2020, with an average price of 115.73 US cents per pound; there is even a trend of continued increase. Whether prices will continue to rise in February of this year will depend on observing the price data for the entire month of February 2021.

2021 Robusta Coffee Bean Prices Decline

Meanwhile, it was found that Robusta coffee bean prices have actually declined, with data showing approximately a 1.8% decrease, with an average price of 70.71 US cents per pound.

ICO Organization Coffee Price Trend Data Chart from January 2019 to January 2021

As can be seen from the chart above, from 2019 to January 2021, Arabica coffee bean prices have been continuously rising. For example, during the major outbreak of the pandemic abroad from April to July 2020, overall coffee bean prices were in continuous decline. However, with online shopping and the gradual easing of the pandemic in some countries and regions, coffee bean prices began to rise significantly from July to October 2020. Although there were declines in between, the overall price trend remained relatively stable. Moreover, compared to 2019 coffee bean prices, the price trend is clearly increasing. Therefore, it is expected that prices will continue to grow as predicted by the ICO.

However, according to ICO data, coffee exports in the first three months of the 2021 coffee year reached 31.59 million bags, an increase of 6.1% compared to October to December 2019. This also indicates that the demand for Robusta coffee beans is quite substantial. However, because its coffee flavor is not as good as Arabica coffee beans and its economic benefits are relatively low, its production and price still lag far behind Arabica.

2021 Global Coffee Production Trend

The International Coffee Organization also believes that global coffee production in 2021 is expected to grow by 1.9%, reaching 171.9 million bags, of which Arabica coffee bean production is expected to grow by 5.2%, reaching 101.88 million bags.

Furthermore, due to the impact of the pandemic, many countries have restricted outdoor activities, and sales at outdoor cafés have fallen significantly compared to before, with reduced demand. However, it is precisely because of this that new consumption patterns have begun to emerge. Online shopping, for example, has already become a trend abroad, which has promoted the slow recovery of the global economy. Therefore, the World Coffee Organization (ICO) also predicts that coffee consumption in 2021 will increase by 1.3% compared to 2020, reaching 166.63 million bags.

Even so, the International Coffee Organization still expects a total coffee production surplus of approximately 5.27 million bags. However, data is not absolute, and specific situations will depend on this year's trends. For example, vaccines against COVID-19 are currently being developed and promoted. If successful, it's possible that we could摆脱 the pandemic's impact this year, and the global economy will begin to recover.

*Image source: Internet

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