MARKET REPORT

March quickly evolved into a month that had more surprises than initially anticipated. Macro economics dominated the picture with Oil prices on a stratospheric trajectory due to the geopolitical situation in the Middle East. This dynamic shaped a lot of global markets, including coffee where there was little fundamental news to talk about.
 
Arabica opened the month at 279.90usc/lb and quickly hit the month low of 277.55usc/lb within the first few hours of trading. The first couple of weeks were predominately range bound between 280usc/lb and 300usc/lb as everyone’s focus and attention was on Oil and the Middle East.
 
The second half of the month we saw more volatility with the market retracing upwards to almost 320usc/lb before falling back down to below 295usc/lb in the following 4 trading sessions. The month closed out at 297.85usc/lb, failing to settle above 300usc/lb. Much of this movement can be attributed to uncertainties in global shipping, currency volatility, most notably the USD & BRL, and the impact on certified inventories at the exchange.

Arabica NYC Graph

Robusta didn’t quite have same trajectory as Arabica. Robusta is considered to be more vulnerable to the uncertainty in shipping routes through the Middle East due to the coffee flow from Asia to the ports in Europe. As a result, prices rallied early in the month due to the geopolitical news and tailed off towards the end of the month. Topping at 3,838 USD/MT in the first week of the month and bottoming at 3,410 USD/MT in the last week of the month.

 Robusta London Graph

On the fundamental news front, we saw most of the major trade houses publish their crop forecasts for the upcoming Brazil harvest. Almost all expectations of the harvest are above 70 million 60Kg Bags, with one trader expecting up to 78 million 60Kg bags. The past few months have seen very positive conditions for bean filling. We now turn our attention to a drier period with more sun which will stimulate cherry maturation. We expect the harvest to begin in the coming month with most of the Arabica region in full swing by mid May.
 
On the other side of the world, Ethiopia is starting to experience some fuel shortages which may impact the flow of coffee in country and milling. This is amplified by the Houthi rebels in Yemen entering the conflict in the Middle East, causing sea vessels to slow through the Suez Canal while being more cautious of the situation.
 
As we look to April, there is little certainty on the radar on what will happen this month. As the Middle East conflict continues, the Macro Economic picture remains unclear. As for coffee, there are still quite a few stocks at origin, with producers and collectors awaiting better prices to conduct business. Let’s see if they feel the pressure to bring this to market before the upcoming Brazilian crop begins.

MICE 2026

Over the weekend, members of the Bennetts team attended MICE, one of Australia's most exciting annual coffee events that brings together thousands of café owners, roasters, baristas, producers, and suppliers from across Australia and around the world. This global gathering offers an incredible platform to connect with our valued customers, learn from innovators across the supply chain, and stay close to the conversations shaping our industry, from market dynamics and logistics to sustainability and consumer behaviour.
 
The expo floor was buzzing with energy, featuring a fantastic lineup of showcases and experiences. Highlights included the ‘Trip to Origin’, ‘Roaster Playground’, educational and industry insight talks, and awards celebrating excellence across the sector.
 
A standout of the event was ‘Trip to Origin’, where ambassadors from Brazil, Indonesia, Papua New Guinea, Uganda, Nepal, India, Colombia, Peru, and Guatemala came together to showcase their origin coffees. Through tastings, cuppings, and educational sessions, attendees gained deeper insight into farming practices, regional flavour profiles, and the people behind the beans. It was especially meaningful for our own Harry and Hien to facilitate the Peruvian showcase, roasting the coffee and hosting a cupping session on the day.
 
We are grateful for the valuable time to connect with customers and industry peers, many of whom travelled great distances to attend. Meeting face-to-face and exchanging ideas continues to strengthen our shared values and reinforces our ongoing commitment to the coffee community.