ICO: Prices For All Group Indicators Fall In January 2020, Reversing Gains From December
Source International Coffee Organization (ICO)
In January 2020, the ICO composite indicator reversed its gains from December, averaging 106.89 US cents/lb as prices for all group indicators fell. Exports in the first three months of coffee year 2019/20 decreased by 5.8% to 29.01 million bags compared to 30.78 million bags in 2018/19. During this period, shipments of Arabica fell 10.1% to 18.28 million bags, but Robustas increased by 2.7% to 10.73 million bags. The decline in Arabica exports was driven largely by a fall in shipments of Other Milds and Brazilian Naturals, of 13.8% to 4.22 million bags and of 13.3% to 9.95 million bags, respectively. However, exports of Colombian Milds rose by 3.7% to 4.12 million bags. While global production is expected to fall by 0.9% to 168.71 million bags, total consumption is projected at 169.34 million bags in 2019/20. This would result in a projected deficit of 0.63 million bags for 2019/20.
