Coffee market recovers slightly from December slump
After reaching its lowest level in 22 months in December 2017, the monthly average of the ICO composite indicator price increased by 1.4% to 115.60 US cents/lb in January 2018. Prices for all group indicators saw gains in January. Colombian Milds, Other Milds, and Brazilian Naturals recorded increases of 1.5%, 1% and 1.8% respectively while Robusta rose by 1.2%. In December 2017, global shipments of coffee increased by 0.7% to 10.62 million bags compared to the same month one year ago. However, shipments for the first quarter of coffee year 2017/18 are down 6.7% from one year ago, reaching 28.36 million bags. Global output in crop year 2017/18, is estimated at 158.93 million bags, 0.8% higher than last year. Production is estimated to grow by 4.7% to 17.93 million bags in Africa, 5.9% to 47.64 million bags in Asia & Oceania and 7.1% to 21.92 million bags in Mexico & Central America. These increases would offset declines in South America by 4.9% to 71.44 million bags.
Read full report: http://www.ico.org/documents/cy2017-18/cmr-0118-e.pdf?