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KMOcoffee.comJuly 11th, 2024

To our Specialty customers, I realize that there have been back-to-back increases. 

Our last increase occurred when the C hit 210 and the Colombian differential was $2.75/lb. When we decided the increase in May, supply projections were still on the hopeful side and we expected that, by the end of July, we'd have a better idea of what to expect for the following year. 

A wave of droughts and the worst weather seen by coffee producers in a long time have driven the C to 247 and the C + Differential for Colombians to $3.12/lb. We do our best to be open and transparent with you when it comes to matters such as these. When the market goes up, we have to go up and when the market goes down we tend to go down like we did in March of 2023.

To be specific about the factors that face coffee at the moment:

  • Somar Meteorologia reported Monday that Brazil's Minas Gerais region received 1.3 mm of rain last week, or only 24% of the historical average.  Minas Gerais accounts for about 30% of Brazil's arabica crop.  Also, the National Oceanic and Atmospheric Administration (NOAA) said that despite recent rain, some coffee producers in Central America still face a moisture deficit following a drought at the start of the season.
  • The General Department of Vietnam Customs reported Tuesday that Vietnam's June coffee exports fell -11.5% month to month and -50.4% year to year, the smallest amount of coffee exports for the month of June in 13 years.  Also, Vietnam's Jan-June coffee exports were down -11.4% year to year.

These coffee leaders drive the markets. The current fear is that this string of drought and dryness affects the soil altering the potential of future crop yields as well.

We roast the best coffee for you as fresh as we can with quality above all. We hope that you stick with us, for our service, for our loyalty to you, and to be able to continue serving your customers A Masterpiece in Every Cup™

Will Roberts | Kaffe Magnum Opus

VP, General Manager of Specialty Coffee

500 S Wade Blvd.| Millville, NJ 08332

Direct: (856) 413-1132 ext 130

Office: (800) 652-5282

William@kmocoffee.com


Dearest Customers,

As we prepare to build our inventory for the upcoming fall and holiday seasons, we are experiencing an unprecedented rise in the cost of coffee due to severe droughts impacting the leading producers.

This has driven the C to 247, and the C+ differential for Colombians to $3.12 per pound.

While we understand the tremendous shock of such an increase, we do hope that you will continue to choose us as your valuable partner in business. We are committed to the quality we deliver to our customers; the BEST coffee experience, at a reasonable price.

Your continued loyalty to KMO allows us to keep doing what we love. Please give us a call to talk through the questions you may have and work out the finer details of your current coffee offerings and if there are alternatives that are more sustainable for your business.

Stephanie Boardman | Kaffe Magnum Opus

VP, Controller

20 Bogden Blvd.| Millville, NJ 08332

Direct: (856) 413-1132 ext 122

Office: (800) 652-5282

stephanie@kmocoffee.com

 

 

 

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