Coffee was once again a positive surprise, accumulating 12% gains for the second position of arabica on ICE US last October. Amid the selected assets, the performance of coffee only lost for cattle traded on the B&MF, which rose more than 16% in the same period. The arabica gains were not in line with those of robusta, which rose only 1.9% on ICE Europe. A fact that reinforces the good moment of coffee is that it had gains while the price of WTI oil fell by almost 20% and the CRB commodity index by 8%. In other words, coffee gained relative value compared to other commodities.
This year, arabica coffee gained 78%, standing out as the asset with the best performance amid the selected assets. Robusta, albeit much less valued, also accumulates an increase of 58% in 2021. Thus, coffee positively detaches from the CRB index, which rose 31%, and oil, which rose 39% in the first 11 months of 2021.