According to Rabobank, the coronavirus pandemic and the fall in oil prices have led to a 9% decrease in the prices of agricultural products in 30 days. Sugar has once again fallen 12.5% in the wakes of the oil prices, an even greater drop if we take into account the weakening of the real. Relatively unscathed, the prices of Arabica fell by 6.9% while Robusta resisted better only dropping 2.9%. The closure of cafes and restaurants in several countries in Europe and the US will however cause a decline in demand in certain countries; sales in supermarkets could compensate for this decrease. Rabobank estimates that coffee should be less affected by the fear of recession and the coronavirus than other products.
Source: ComodAfrica
