Reuters: coffee prices have sharply decreased after the U.S. lifted tariffs against Brazil.
Global coffee prices have plummeted sharply after U.S. President Donald Trump exempted certain types of Brazilian agricultural products, including coffee and cocoa, from 40% tariffs. The reasons for this decision, as reported by Reuters, were growing dissatisfaction among American consumers with high food prices.
It is noted that in September, retail coffee prices in the U.S. rose by 40% year-on-year. Meanwhile, Brazil supplies about one-third of its harvest to the U.S.
After the White House decided to ease tariffs, at 13:17 Moscow time, Arabica coffee futures on the ICE exchange fell by 4.6% to $3.5925 per pound. For Robusta, the decline was estimated at 5% to $4,400 per ton.
