Could arabica espresso (KCK26) on Monday closed down -7.65 (-2.68%), and Could ICE robusta espresso (RMK26) closed down -31 (-0.86%).
Espresso costs settled sharply decrease on Monday, with robusta tumbling to a 6.5-month low. Espresso costs have been below strain over the previous month, with arabica falling to a 15-month low final Thursday as indicators of a bumper Brazilian espresso crop have improved the worldwide provide outlook. On February 5, Conab, Brazil’s crop forecasting company, mentioned that Brazil’s 2026 espresso manufacturing will climb by +17.2% y/y to a document 66.2 million luggage, with arabica manufacturing up +23.2% y/y to 44.1 million luggage and robusta manufacturing up +6.3% y/y to 22.1 million luggage.
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Additionally, enough rain in Brazil has improved the outlook for the nation’s espresso crop. On Monday, Somar Meteorologia reported that Brazil’s largest arabica coffee-growing space, Minas Gerais, acquired 62.8 mm of rain throughout the week ended February 13, or 138% of the historic common.
Hovering espresso exports from Vietnam, the world’s largest robusta producer, are bearish for robusta costs. On February 6, Vietnam’s Nationwide Statistics Workplace reported that Vietnam’s Jan espresso exports surged +38.3% y/y to 198,000 MT. Vietnam’s 2025 espresso exports jumped by +17.5% y/y to 1.58 MMT. Additionally, Vietnam’s 2025/26 espresso manufacturing is projected to climb +6% y/y to a 4-year excessive of 1.76 MMT (29.4 million luggage).
The restoration in ICE espresso inventories is damaging for costs. ICE-monitored arabica inventories fell to a 1.75-year low of 396,513 luggage on November 18, however recovered to a 3.75-month excessive of 461,829 luggage on January 7. Additionally, ICE robusta espresso inventories fell to a 14-month low of 4,012 heaps on December 10 however recovered to a 2.75-month excessive of 4,662 heaps on January 26.
On the constructive aspect for espresso, Brazil’s Commerce Ministry reported on February 5 that Brazil’s Jan espresso exports fell -42.4% y/y to 141,000 MT.
Smaller espresso provides from Colombia, the world’s second-largest arabica producer, are supportive of costs, following the Nationwide Federation of Espresso Growers’ report that January espresso manufacturing fell -34% y/y to 893,000 luggage.
As a bearish issue, the Worldwide Espresso Group (ICO) reported on November 7 that international espresso exports for the present advertising yr (Oct-Sep) fell -0.3% y/y to 138.658 million luggage.
The USDA’s Overseas Agriculture Service (FAS) bi-annual report on December 18 projected that world espresso manufacturing in 2025/26 will enhance by +2.0% y/y to a document 178.848 million luggage, with a -4.7% lower in arabica manufacturing to 95.515 million luggage and a +10.9% enhance in robusta manufacturing to 83.333 million luggage. FAS forecasted that Brazil’s 2025/26 espresso manufacturing will decline by -3.1% y/y to 63 million luggage and that Vietnam’s 2025/26 espresso output will rise by 6.2% y/y to a 4-year excessive of 30.8 million luggage. FAS forecasts that 2025/26 ending shares will fall by -5.4% to twenty.148 million luggage from 21.307 million luggage in 2024/25.
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