Key Takeaways
- • The ICE KC C-contract averaged 344.6¢/lb in August 2026, its highest August level in ten years, up 6.8% from July, according to the Colombian coffee growers federation (FNC) monthly report as republished by StoneX.
- • Colombian coffee differentials averaged 66.67¢/lb over ICE futures in August, up 2.6% month on month and 2.4 times the level of August 2025, the second-highest August average in the past decade after 2022.
- • Ex-dock prices reached a 10-year August high of 385.9¢/lb, but the domestic reference price fell 17.9% year on year to COP2.263 million per load as the peso appreciated 22.8% against the dollar.
- • Domestic production fell 12.2% year on year in August to 1.09 million 60kg bags, and the August harvest value dropped 18.1% to COP1.67 trillion (about $534mn).
- • The ICO composite indicative price averaged 287.29¢/lb, virtually flat from July and down 3.3% year on year, the second-highest August average on record.
Summary
Colombian coffee differentials widened in August 2026, supported by strong demand and persistent supply constraints, according to the coffee growers federation (FNC) monthly report as published by StoneX. The premium for Colombian coffee averaged 66.67¢/lb over the ICE futures contract, up 2.6% from July and 144.3% above August 2025. Weekly differentials ranged between 65.0¢/lb and 70.0¢/lb through the month, consolidating gains made in the first half of the year. The August average is the second-highest for the month in the past decade, trailing only 2022.
Exchange-traded prices also rose. The ICE KC C-contract averaged 344.6¢/lb, its highest August level in ten years, up 6.8% from July and 0.9% year on year. The report attributes futures support to Brazilian harvest delays, producer holding behavior in Brazil, lower exchange-certified inventories, a steep front spread, and lingering risks of a strong El Niño event. Ex-dock prices reached a 10-year August high of 385.9¢/lb, up 2.0% month on month and 9.4% year on year.
Domestic returns in Colombian pesos were weighed down by currency movements. The domestic reference price averaged COP2.263 million per 125kg load, up 0.8% from July but down 17.9% from August 2025. The official exchange rate (TRM) averaged 3,126.8 COP/USD, a 4.4% appreciation from July and 22.8% stronger than August 2025. This was the lowest monthly average of 2026 and the lowest since March 2019. The report cites oil price trends, interest rate differentials, and carry-trade inflows as drivers. In the final week of August the peso pared gains as oil prices fell and market expectations shifted toward US Federal Reserve rate hikes. Despite the annual FX drag, the monthly average internal price remained the third highest for August in a decade.
Supply fell over the same period. Domestic production declined 12.2% year on year to 1.09 million 60kg bags. Rolling 12-month output reached 12.58 million bags, down 15% from the prior 12-month period but above the corresponding August periods in 2022, 2023, and 2024. Year-to-date production stood at 7.73 million bags and crop-year production at 11.44 million bags. The total August harvest value fell 18.1% to COP1.67 trillion (about $534mn). The 12-month trailing harvest value of COP20.88 trillion was down 11.8% year on year but extended an 18-month run above the COP20 trillion threshold.
The ICO composite indicative price averaged 287.29¢/lb in August, virtually unchanged from July and down 3.3% from August 2025. Colombian Milds averaged 387.46¢/lb (up 1.1% month on month), Other Milds 361.31¢/lb (up 0.7%), Brazilian Naturals 322.24¢/lb (up 0.5%), and Robustas 180.63¢/lb (down 2.2%).
Exchange-traded prices also rose. The ICE KC C-contract averaged 344.6¢/lb, its highest August level in ten years, up 6.8% from July and 0.9% year on year. The report attributes futures support to Brazilian harvest delays, producer holding behavior in Brazil, lower exchange-certified inventories, a steep front spread, and lingering risks of a strong El Niño event. Ex-dock prices reached a 10-year August high of 385.9¢/lb, up 2.0% month on month and 9.4% year on year.
Domestic returns in Colombian pesos were weighed down by currency movements. The domestic reference price averaged COP2.263 million per 125kg load, up 0.8% from July but down 17.9% from August 2025. The official exchange rate (TRM) averaged 3,126.8 COP/USD, a 4.4% appreciation from July and 22.8% stronger than August 2025. This was the lowest monthly average of 2026 and the lowest since March 2019. The report cites oil price trends, interest rate differentials, and carry-trade inflows as drivers. In the final week of August the peso pared gains as oil prices fell and market expectations shifted toward US Federal Reserve rate hikes. Despite the annual FX drag, the monthly average internal price remained the third highest for August in a decade.
Supply fell over the same period. Domestic production declined 12.2% year on year to 1.09 million 60kg bags. Rolling 12-month output reached 12.58 million bags, down 15% from the prior 12-month period but above the corresponding August periods in 2022, 2023, and 2024. Year-to-date production stood at 7.73 million bags and crop-year production at 11.44 million bags. The total August harvest value fell 18.1% to COP1.67 trillion (about $534mn). The 12-month trailing harvest value of COP20.88 trillion was down 11.8% year on year but extended an 18-month run above the COP20 trillion threshold.
The ICO composite indicative price averaged 287.29¢/lb in August, virtually unchanged from July and down 3.3% from August 2025. Colombian Milds averaged 387.46¢/lb (up 1.1% month on month), Other Milds 361.31¢/lb (up 0.7%), Brazilian Naturals 322.24¢/lb (up 0.5%), and Robustas 180.63¢/lb (down 2.2%).
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