- Coffee Trade Statistics June 2010: World coffee exports amounted to 7.83 million bags in June 2010, compared with 8.55 million in June 2009. Exports in the first 9 months of coffee year 2009/10 (Oct/09 to Jun/10) have decreased by 6.8% to 69.8 million bags compared to 74.9 million bags in the same period in the last coffee year. In the twelve months ending June 2010, exports of Arabica totalled 59.7 million bags compared to 63.6 million bags last year; whereas Robusta exports amounted to 32.6 million bags compared to 35.2 million bags. Coffee trade statistics 2010
- Brazilian government reaffirms support for the International Coffee Organization (ICO): The Secretary of Production and Agroenergy, Manoel Vicente Fernandes Bertone, and the Head of the Coffee Department, Robério Oliveira Silva, of the Ministry of Agriculture, Livestock and Food Supply of Brazil visited the ICO where they met with the Executive Director, Néstor Osorio, and the Head of Operations, José Sette.
During the meeting, they examined the state of the world coffee market and concluded that the current tight demand/supply situation is likely to persist in the near- to medium-term.
The ratification of the 2007 International Coffee Agreement by the Brazilian Congress was also discussed.
The Brazilian representatives stated their confidence in the successful conclusion of the ratification process and their country’s appreciation for the indispensable role of the ICO in the world coffee economy.
London, 30 July 2010.
Photo
- Ratification of the International Coffee Agreement 2007 - Yemen: The Government of Yemen deposited an instrument of ratification on 14 July 2010. Depositary notification
-
Ratification of the International Coffee Agreement 2007 - Ethiopia: The Government of Ethiopia deposited an instrument of ratification on 8 July 2010. Photo I Depositary notification
- Coffee market report from the Executive Director: Prices recorded a substantial increase in June with the monthly average of the ICO composite indicator price rising from 128.1 US cents per lb in May to 142.2 US cents per lb, the highest monthly average since June 1997.
Price volatility also increased considerably, with that of the ICO composite indicator rising from 3.6% in May to 7.6% in June, an increase of more than 110%, indicating the marked nervousness of the market during this month.
Speculative movements on the part of investment funds accentuated this price volatility, which can be accounted for mainly by the reduction in supplies of Mild Arabicas.
Price increases were much steeper in the case of Arabicas, particularly Colombian Milds, with a widening in the differentials between prices of this group and the other three coffee groups.
Coffee market report June 2010
- President-elect Juan Manuel Santos reiterates the support of his Government for the International Coffee Organization (ICO): The President-elect of Colombia, Juan Manuel Santos, visited the ICO where he met with the Executive Director of this body, Néstor Osorio.
During their meeting they discussed the global coffee situation, the satisfactory growth in consumption and the problems of various producing countries that have been affected by extreme weather conditions, rising production costs and currency appreciation. Colombia is one of the most affected countries with a production loss of around 30% in the last two years, but is expected to recover in the next harvest. The price level for Colombian coffee is currently around US$2.30 per lb, the highest recorded in 12 years.
President-elect Santos, who represented Colombia at the ICO from 1970 to 1980, recalled the days of intense negotiations that resulted in important benefits for Colombia. He also confirmed his support for the work being done by Néstor Osorio as Executive Director of the Organization which has 77 Member countries, and highlighted the significant role of the ICO as a global forum for consultations on coffee, defending the interests of producers and cooperation with consumers. London, 6 July 2010. Photos
