Last week coffee prices stayed in the 174 – 190.5 range.
As expected by experts, over the period of April 30th through May 2nd, there was another price hike in the global market of coffee. If the real data are close to the forecast or match it, coffee prices may well decline in May. However, in late May, the prices may rally once again in advance of June’s new supplies, which will most likely cause another downtrend. Meanwhile, the Brazilian coffee harvest is still greatly dependent on weather conditions.
Last week rains favored the coffee harvest in the South of Brazil. This week drier weather is expected in Brazil, thus favoring the harvesting campaign. Rains keep easing the drought in Colombia. This week more rains are expected in the country.
Dry weather is expected to intensify the drought in Mexico while Central American and East African countries will see more rains, which will contribute to their coffee harvests.
