Cautious optimism over coffee market prospects
12 November 2004
In his closing address to the Sintercafe conference in Costa Rica, the Executive Director stated that it was now possible to hope that over the next two years price levels could reach levels that would at least cover the cost of production
In his closing address to the Sintercafe conference in San José, Costa Rica on 10 November 2005, the Executive Director, Mr. Néstor Osorio stated that it was now possible to hope that over the next two years price levels could reach levels that would at least cover the cost of production and provide some additional income. This would be a slow process, but essentially arises from a greater balance between supply and demand. In 2003/04, world coffee production dropped from nearly 122 million bags in the previous year to just under 101 million. World consumption, on the other hand, can be estimated at between 113 and 114 million bags at present. Moreover, in the forthcoming year (2005/06) production in Brazil is expected to be lower in view of the fact that it is the off year in the Brazilian biennial cycle, suggesting that it will be significantly below current production in 2004/05 of some 38 million bags.
Noting that more and more attention was being given in the international coffee community to sustainability issues, Mr. Osorio referred to the initiative to create a Common Code for the Coffee Community. This was of great interest but required further study and analysis in order to ensure that the proposed implementation took full account of all aspects of creating a sustainable world coffee economy. This analysis was now being carried out and the matter would be debated extensively at the next ICO meetings in January 2005.
|ICO Indicator prices
(US cents/lb) 17/06/2021
1 October is #InternationalCoffeeDay
Every year on 1 October, the world comes together to celebrate coffee and recognise the millions of people across the globe - from farmers, to roasters, baristas, coffee shop owners and more - who work hard to create and serve the beverage we all love.
This year we're on a collective mission to help coffee farmers around the world receive a fair, living income. But to do it we need your help, find out more at: International Coffee Day
Latest ICO Studies & Reports
ICO Coffee Break Series
The ICO has released research on the impact of covid-19 on the global coffee industry.
- Impact of covid-19 on the global coffee sector: The Demand Side (April 2020)
- Volatile coffee prices: covid-19 and market fundamentals (May 2020)
- Impact of covid-19 on the global coffee sector: Survey of ICO exporting Members (July 2020)
Futures markets: the role of non-commercial traders (Published March 2019)
Profitability of coffee farming in selected Latin American countries - interim report (Published March 2019)
Survey on the impact of low coffee prices on exporting countries (Published March 2019)
Emerging coffee markets: South and East Asia (Published September 2018)
Guide to Access Green and Climate Funding: The Global Environment Facility (Published October 2018)
Role of coffee futures markets in discovering prices for Latin American producers (Published September 2018)
National Quality Standards (Published September 2018)
Gender equality in the coffee sector (Published September 2018)
Maximum residue limits (Published September 2018)
Country Coffee Profile: Ghana (Published September 2018)
Mixtures and substitutes (Published September 2018)
Gender equality in the coffee sector (Published April 2018)
Development of coffee trade flows (Published April 2018)
ICO Coffee Library
The ICO has a unique Library containing an international reference collection, built up over 40 years of more than 13,000 monographs (books, reports, theses, pamphlets) and over 200 periodical titles covering all aspects of coffee.