The Intercontinental Exchange (ICE) is discontinuing the U.S.-cents-per-pound benchmark for arabica coffee, known as the C Price. This change comes as part of a broader shift towards pricing coffee in metric tons, with the last traditional contracts being listed for March 2028. This transition will allow the usage of Flexible Intermediate Bulk Containers for storage, a practical choice for coffee warehouses. Experts believe this move will modernize and align coffee pricing with global standards, enhancing the efficiency of transactions in the industry.
The shift from U.S. cents per pound to metric tons marks a significant change in how the coffee industry benchmarks and communicates prices.
"It now aligns with London in dollars per ton and is an easier conversion from tons to 60-kilo bags. Price-by-the-pound was becoming more obsolete." - Judith Ganes, commodities expert.
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