US tariffs behind arabica price surge, Brazilian exporters say

The global arabica coffee market has surged in August with prices gaining more than 30% on the ICE exchange, driven mainly by steep tariff hikes from the US, the head of Brazil's coffee exporters council, Cecafe, said.

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The 50% tariff imposed on Brazilian coffee by the Trump administration since Aug. 6 has made exports to the US unviable and disrupted markets, Cecafe President Marcio Ferreira said in an interview.

"In meetings I had with the American side, I made it clear that the tariff hike created an environment of uncertainty and drove coffee prices up globally — and there may be no ceiling," Mr. Ferreira said.

"The market can't read where the price peak is," he added.