The International Coffee Organization (ICO) reported volatile coffee prices in September 2014, once again reacting to weather in Brazil. The 2013/14 crop year ended in all exporting countries, with total production estimated at 145.2 million bags, according to ICO. World consumption was also around 145 million bags in 2013. Although the market was found to be reasonably balanced, the organization predicts lower production in 2014/15 which will likely result in a global deficit next year. The ICO composite indicator price averaged 161.79 U.S. cents per pound in September 2014. Full report.
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