The C market (or “C contract”) is the global benchmark price for arabica coffee. It is the futures contract traded on the Intercontinental Exchange (ICE) in New York, and it sets the reference price that the entire arabica supply chain is built around.
How it works
The C contract represents 37,500 pounds of arabica coffee from any of about 20 approved producing countries, deliverable to specific warehouses. Buyers and sellers trade futures on this contract, betting on or hedging against price movements.
The current C price is publicly visible and quoted in cents per pound. As of 2026, the price has been historically high, often above 300 cents per pound, compared to an average around 100-150 cents through much of the 2010s.
How it affects your bag
Specialty coffee buyers do not pay the C price exactly. Most pay the C price plus a quality premium (called the differential), which can be anywhere from 30 cents to several dollars per pound depending on the coffee’s quality and the relationship.
When the C price spikes, even high-end specialty coffees become more expensive because the floor price moves up. Roasters absorb some of this in their margins, but eventually it reaches retail. A 50-cent C price increase often translates to a $2-3 retail bag price increase six months later.
Why prices move
The C market reacts to supply disruptions (drought in Brazil, frost in Vietnam, civil unrest in producing countries), demand shifts, currency fluctuations, and speculation. Brazil produces roughly a third of global arabica, so its harvest size is the biggest single driver of price.
What it does not capture
The C market is a commodity benchmark. It does not reflect the value of microlots, single-farm sourcing, or quality grades above mainstream commercial. Specialty coffee operates partially independently, with prices set by direct relationships and quality scoring rather than the C contract.
That said, even specialty coffee uses the C market as a baseline. Producer agreements often reference it, even when actual prices paid are well above it.