Coffee Market Report July 2014: Renewed Concerns Over Brazil Crop Cause Price Jump
11 August 2014
A renewed bullish sentiment triggered by a spate of negative reports on the current Brazilian crop took the ICO composite daily price up by nearly 15% in the last two weeks of July. Several external sources have issued lower production estimates in the last month, spurring the market higher. The damage from the drought at the beginning of the year is expected to cause a global supply deficit in crop year 2014/15, with production in Brazil officially estimated to decrease by 9.3% to 44.57 million bags, its lowest level in three years. Read the July 2014 Coffee Market Report>>
|ICO Indicator prices
(US cents/lb) 11/12/2017
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