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From Pounds to Tons: Changes Coming to the C Market

Posted on June 2nd, 2025

What Does the Recent Intercontinental Exchange Announcement Mean?

Last week, the Intercontinental Exchange (The ICE), which operates the C Market Futures exchange, announced that starting with the March 2028 Arabica coffee futures contracts, some contract structure changes will be implemented. They have yet to define what most of those changes will be.

Before we get our arms waving wildly, we don’t expect these changes to impact most specialty individuals too directly. That said, The ICE has not provided us with much information yet. Here are the changes we do know are coming and our quick take:

  • The Arabica Coffee Future will be quoted in US Dollars per Metric Ton (USD/MT). That’s just math. Take the current quote in US Cents per pound and multiply by 22.046. Easy! I mean, conceptually easy. Many spreadsheet wizards and computer programmers will have their work cut out for them over the next few years. Whenever we are accustomed to seeing something in a certain way, it always takes time to adjust.
  • Certified stocks will be allowed to be packed in “Flexible Intermediate Bulk Containers” (FIBCs), also known as big bags, super sacks, or bulker bags. Previously, only 59-70 kg bags were allowed. Certified stocks serve as one of the connections between “physical coffee” and “financial coffee.” This change is likely intended to increase the amount of coffee eligible for certification. Additionally, handling coffee in super sacks is considerably more cost-effective than using traditional jute bags.

For now, those are all the details The ICE has provided. They stated, “Full specifications and the listing date for the new futures and options contracts will be announced once determined.” Stay tuned for more updates!