Global coffee market and recent price developments

Abstract

Coffee is one of the most widely consumed beverages worldwide and ranks among the most traded commodities globally. It sustains the livelihoods of some 25 million farmers and creates additional employment throughout the coffee value chain. For many low-income countries, coffee exports represent an important source of revenue, generating foreign currency reserves essential for securing access to global markets for the import of goods and services. International coffee prices began rising in late 2023 and continued climbing through most of 2024, due to limited supplies from Viet Nam and Indonesia and adverse weather affecting production in Brazil.