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