In a historic moment, Cooabriel becomes the first to trade conilon coffee on the São Paulo Stock Exchange
In partnership with XP Investimentos, the cooperative signed a contract for 100 bags for delivery in November and marks a new chapter for coffee from Espírito Santo in the financial market.
Cooabriel, Brazil's largest conilon coffee cooperative, has become the first to trade conilon coffee on the São Paulo Stock Exchange (B3), marking a historic moment for agribusiness in Espírito Santo, in an operation brokered by XP Investimentos.
The operation was registered on September 23, the date that marked the start of trading in the conilon/robusta (coffea canephora) coffee futures contract on the B3.
For Cooabriel's superintendent, Carlos Augusto Pandolfi, the cooperative left its mark on this historic day for conilon coffee. “We are certain that this operation will open doors and opportunities for conilon coffee producers in Espírito Santo and Brazil,” said Pandolfi.
Impact on Espírito Santo's agribusiness
Espírito Santo is the largest producer of conilon coffee in Brazil and this inclusion on B3 reinforces the state's competitiveness on the national and international stage. According to the Secretary of Agriculture, Enio Bergoli, who played an active role in the negotiations, the conilon futures contracts represent a new chapter for the state's main economic activity.
Bergoli says that a contract model has been developed that provides another instrument for better risk management, especially during periods of market price fluctuations. “When a producer puts his product up for future sale, he obviously calculates his cost of production and can now gamble with a portion by having a guarantee of at least part of the production to reduce the risk of operations,” he explains.”
In addition to its work in the domestic market, Cooabriel has excelled in exports. In 2023, the cooperative recorded a 28% increase in exports, as it has dedicated itself to maintaining and opening up new markets. In the process, it achieved an unprecedented feat: the first export of conilon coffee to Egypt. This move reinforces the cooperative's strategy of expanding its international presence and opening up new markets for coffee from Espírito Santo.