The coffee C market is the futures market that sets the benchmark world price for Arabica coffee. “Coffee C” is the name of the Arabica futures contract traded on ICE Futures U.S. in New York (ticker KC). Each contract covers 37,500 pounds of washed green Arabica, priced in US cents per pound, and almost all of the world’s commodity coffee is bought and sold at a price based on it. When you hear that “coffee prices” hit a high or a low, this is usually the number being quoted.
| What it is | A futures contract for green Arabica coffee |
| Where it trades | ICE Futures U.S., New York |
| Ticker | KC |
| Contract size | 37,500 lb (about 17 metric tons) |
| Priced in | US cents per pound |
| What can be delivered | Washed Arabica from an approved list of producing countries, graded and stored in exchange-licensed warehouses in US and European ports |
| Robusta | Trades separately, on ICE Futures Europe in London, priced in dollars per metric ton |
The contract is not traded on the New York Stock Exchange; ICE is a separate futures exchange.
How Coffee Is Priced Off the C Market
Very little coffee is actually delivered through the exchange. Instead, the C price acts as a reference. A real lot of green coffee is usually sold at the “C price plus a differential”: a premium or discount for its origin, quality and grade. A good Colombian washed coffee might sell at a premium over the C price; a lower grade at a discount.
Futures let both sides manage risk. A roaster can lock in a price for coffee it will need months from now, and an exporter or large producer can lock in a selling price before the harvest. Speculators who never touch a bean also trade the contract, betting on where prices will go. That adds volume, and it can make prices swing harder.
What Moves the Coffee Price
- Weather in Brazil. Brazil grows more coffee than any other country, so a frost or drought there moves the whole market.
- Harvests elsewhere. Crops in Colombia, Central America, Ethiopia and, for Robusta, Vietnam.
- Stocks. How much certified coffee sits in exchange warehouses.
- The US dollar and the Brazilian real. A weak real encourages Brazilian farmers to sell, which tends to push prices down.
- Demand, shipping and trade policy. Freight costs, tariffs and regulations all feed in.
- Traders’ expectations. Prices move on forecasts of future supply, not just today’s.
The swings can be dramatic. In 2019 the C price fell below $1 a pound, its lowest in more than a decade. After poor harvests in Brazil and Vietnam, it passed $4 a pound for the first time in February 2025 and set further records later that year.
How the C Market Affects What You Pay
Supermarket and big-brand coffee tracks the C price most closely, because green coffee is a large share of its cost. When the C price climbs and stays high, those brands raise prices or shrink bag sizes, usually a few months later once their locked-in contracts run out. Specialty coffee is affected less directly, since its green coffee costs more to begin with and is usually priced on quality, but a big run-up like 2025’s still pushes café and roaster prices up.
What the C Market Means for Coffee Farmers
Most of the world’s coffee is grown on small family farms, and their income rises and falls with the C price. When it drops below what it costs to grow coffee, as it did for long stretches in the 2010s, many farmers sell at a loss, cut back on care for their trees, or leave coffee altogether. High prices do not always help either: much of the money goes to whoever holds the coffee when prices jump, and farmers who sold their crop ahead of time, or who lost part of it to the same bad weather that drove prices up, may see little of it.
This is why some buyers step outside the C market. Fairtrade sets a minimum price that applies when the C price falls below it. Many specialty roasters buy directly from farms and set prices on quality, often well above the C price. Our guide to sustainable coffee sourcing explains what to look for as a buyer.
The C Market vs the Specialty Coffee Market
The C market treats coffee as a commodity: if it meets the contract’s grade, one pound is much like another, with only set premiums and discounts by origin. It does not pay for flavor. A coffee grown at 4,500 feet in Costa Rica with a distinctive cup can earn the same base price as an ordinary lot.
The specialty coffee market works differently. Coffees are cupped and scored, and the price follows quality, with exceptional lots selling for many times the C price. That gives farmers in places like Costa Rica, Ethiopia and Colombia a reason to invest in better coffee. Even so, specialty is a small share of world production, and most farmers still sell at prices tied to the C market.
Former roastery owner and coffee tour operator. Steve spent five years roasting coffee for his own shop and wholesale customers. More about Steve