ICE skyrockets and drives the internal physical prices, but business has been slow. The fear of production losses prevails, which leads to the expectation of higher prices due to an even greater decline in the Brazilian crop. Good cup in the south of Minas Gerais and Mogiana ranges from BRL 830 to 840 per bag. Fine coffee is indicated between BRL 865 and 875 in Cerrado. Besides the ICE’s rally, the dollar is still relatively strong against the real, which also favors domestic coffee prices. Thus, the best cups surpass BRL 800 per bag, changing the level of performance upwards. Fine cherry coffee is trading above BRL 900 per bag, taking advantage of Colombia’s logistical problems.
The weaker cups also gained value. Arabica Rio from Matas de Minas is trading between BRL 615 and 625 per bag for a lot with up to 20% of defects. Conillon 7/8 in Colatina, Espírito Santo, is changing hands at BRL 450 per bag. The greater conillon crop in Brazil and the most advanced harvest act as a brake, limiting a more significant advance in the prices of this description.
