Arabica coffee prices are expected to end 2021 at $ 1.35 per pound, up 7.7% from Monday's closing (February 1) and 5.3% above the levels seen at the end of 2020 , according to the median forecast of the research participants.
Brazil, the largest producer, will enter a negative year in its biennial production cycle in the 2021/22 harvest. As a result, respondents expect a crop of 55.51 million bags of 60 kg, compared to 69 million bags in the current season.
The lower Brazilian production will leave the arabica market with a deficit of 8.5 million bags next season, although the market is expected to have a surplus of 8 million bags this season.
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