What is the C-Market in coffee?

The C-Market is the global Arabica coffee futures exchange, operated by ICE Futures U.S. in New York. It sets the benchmark price for green coffee worldwide - quoted in US cents per pound, moving continuously based on supply forecasts, weather events, currency movements, and speculative trading activity.

Almost everything in green coffee trade references it. When a coffee is priced at "+45 cents over C," that means the C-Market spot price plus 45 US cents per pound. When the market moves sharply - as it did in 2021 and again through 2024, hitting historic highs - every coffee in the supply chain gets more expensive, regardless of whether it has any direct relationship to commodity-grade material.

For roasters, the C-Market matters even when you're buying outside commodity channels. It sets the floor that influences how producers, exporters, and importers price their lots. Keeping a rough eye on it gives useful context when a price quote comes in higher than last season, or when an importer flags availability issues - often those conversations start with what's happening at the exchange.