2018/19 Marks Second Consecutive Year of Surplus

2 October 2019

World coffee production in coffee year 2018/19 is estimated to be 3.7% higher than in the previous year at 168.87 million bags, as output of Arabica increased by 1.8% to 102.68 million bags and Robusta grew 6.7% to 66.04 million bags. The larger supply in coffee year 2018/19 is reflected in increased shipments in the first eleven months of the coffee year, during which global exports increased by 9.2% to 120.28 million bags, surpassing the total volume shipped in 2017/18. In coffee year 2018/19, world consumption is estimated to be 2.1% higher at 164.82 million bags, but coffee production exceeded this by 4.05 million bags. This surplus is a major factor in the low prices this season. The ICO composite indicator fell to 97.74 US cents/lb in September 2019, and it averaged 100.47 US cents/lb in coffee year 2018/19. Prices for the Arabica group indicators rose in September 2019, while the Robusta indicator fell to its lowest monthly average since April 2010, decreasing to 70.64 US cents/lb in September 2019.

Find out more in the ICO's latest Coffee Market Report>>

ICO Indicator prices
(US cents/lb)  11/10/2019
  change
ICO Composite 94.81 -0.2%
Colombian Milds 128.45 +0.1%
Other Milds 123.14 +0.1%
Brazilian Naturals 94.46 +0.1%
Robustas 68.09 -1.1%

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