The International Coffee Organization (ICO) reports that the monthly average of the ICO composite indicator decreased by 1.5 percent to 109.59 US cents/lb for November 2018 This followed a 13.3 percent increase to 111.21 US cents/lb in October, reflecting the decrease in prices. Robusta fell 2.1 percent to 83.52 US cents/lb, while Brazilian Naturals fell to 113.27 US cents/lb, 2 percent. The differential between Colombian Milds and Other Milds decreased 38.1 percent to 2.16 US cents/lb.
For the year 2017/18, ICO estimates the global output at 163.51 million bags, exceeded world consumption by 1.59 million bags. The surplus in supply will drive prices down over the next few months. Read the latest Coffee Market Report
