Prices fall in November following increased October exports

10 December 2018

The monthly average of the ICO composite indicator decreased by 1.5% to 109.59 US cents/lb in November 2018 following the 13.3% increase to 111.21 US cents/lb last month, reflecting the fall in prices for all group indicators. The price for Robusta fell 2.1% to 83.52 US cents/lb, while Brazilian Naturals fell 2% to 113.27 US cents/lb. The differential between Colombian Milds and Other Milds decreased 38.1% to 2.16 US cents/lb, as the monthly average for Colombian Milds fell by 1.1% to 139.27 US cents/lb, compared to a decrease of 0.2% to 137.11 US cents/lb for Other Milds. In coffee year 2017/18, global output, estimated at 163.51 million bags, exceeded world consumption, estimated at 161.93 million bags, by 1.59 million bags. This excess in supply has put downward pressure on prices that may continue over the next few months. The increase in supply is also reflected in the export data. World coffee exports increased by 17% to 10.41 million bags in October 2018, compared with 8.89 million in October 2017. In the twelve months ending October 2018, global shipments amounted to 123.5 million bags, 4.2% higher than last year.
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ICO Indicator prices
(US cents/lb)  17/09/2019
ICO Composite 97.76 -2.5%
Colombian Milds 131.84 -2.4%
Other Milds 129.52 -2.7%
Brazilian Naturals 98.81 -3.6%
Robustas 70.32 -1.0%

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