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Coffee prices in the global market: October 20th-24th

Recent weeks have seen something of an uncertain time for coffee prices on the international market, which we at DRWakefield have been covering in our weekly reports, the latest of which spans the five-day trading period from Monday October 20th to Friday October 24th.

Here, we're going to break this down slightly, looking at currency fluctuations throughout the week, as well as at the price of both Arabica and Robusta beans in different countries.

Currency

It wasn't the best week for the value of the pound sterling, as its conversion rate with the US dollar decreased to $1.5993, although in relation to the euro, it was slightly more stable, with this conversion rate coming in at €1.2627.

But what about elsewhere in the coffee world?

Coffee prices around the world

In the East African bean basket, Arabica prices increased significantly during the week, with a 12 per cent rise relating to Kenya's top grade AA coffee, according to data from the Nairobi Coffee Exchange.

Over in Tanzania, strong demand from exporters and the higher performance of the New York market saw the value of Arabica rising steadily too.

However, elsewhere in the international coffee market, things weren't quite so rosy.

In Vietnam, sales of fresh beans decreased last week, which is something that could be down to global prices easing. Coffee from older crops in Vietnam still fared well on the market, but these are expected to slow as this season's harvest reaches its peak.

Most traders' eyes have been firmly placed on Brazil in recent weeks, as uncertain weather conditions in the country have led to fears regarding its coffee harvest. Optimism has begun to surround this though, with some experts placing bets that the drought has not done as much damage as originally thought.

Despite this increased positivity, Brazilian Arabica coffee is being sold at the biggest discount for several years, as traders try to get their hands on quality beans at a low price while stocks last.