The decline on ICE forced the realignment in international coffee prices. Colombian milds, for example, accumulate losses, from the peak at the beginning of the month until the close of 14%, and were trading around 156 cents at the end of September. Other milds in Central America follow the same performance, accumulating losses of 13%.
The biggest tumble occurred with Brazilian naturals, which accumulated a decrease of 19% in the analyzed period. The Brazilian market had been benefiting from the gap left by milds. For this reason, they suffered more from the change in behavior. The pressure from the crop and overvalued dollar also ended up weighing against the prices of Brazilian coffee, which, for this reason, once again lost relative value in the international market.
Finally, robusta, which fell 9% in September, a much smaller decline than that of arabica. The fact is that robusta did not rise as much as arabica. Therefore, it is natural that the negative correction is also less significant. This realignment is very clear when comparing the price evolution of the first position of arabica on ICE Futures U.S. and robusta on ICE Europe.