September 2024 Outlook Report: Coffee, Sugar, Tea, and Cocoa

Roasted Coffee Beans Sugarcane Bulk Green Tea Bulk Black Tea Sugar Raw Common Coffee Bean Cocoa Bean Coffee & Tea Brazil

Trade4go

Sep 22nd, 2024

- Key Indicators: Global freight prices increased by 3.46% month-on-month (MoM) in Aug-24, averaging USD 5,257.46 per 40-foot container. This rise was largely due to congestion and strikes impacting major shipping routes. Meanwhile, the World Bank's fertilizer index saw a slight decline of 0.27% MoM, dropping to 120.34 points. This decrease was primarily driven by a 2.21% MoM drop in potassium chloride prices, which outweighed a 1.22% MoM increase in diammonium phosphate (DAP) prices. - Coffee: Brazilian coffee prices are forecast to increase due to ongoing weather concerns. Low domestic supply is expected to put upward pressure on Colombian prices in September. Vietnamese coffee prices are predicted to increase due to potential weather concerns, specifically related to the El Niño phenomenon. - Sugar: Improved crop prospects are expected to keep prices stable in India. Sugar prices in Brazil are set to decrease due to low demand. - Tea: Indian tea prices are expected to remain low in September due to a sharp increase in production. Tridge predicts that tea prices in Kenya will remain stable due to ample supply, while Sri Lankan prices are expected to trade down due to elevated production levels. - Cocoa: Tridge forecasts that cocoa prices will remain elevated in September. This bullish trend will likely persist as supply challenges in West Africa remain unresolved.