Prices for Arabica coffee group indicators increased in March because of concerns over the availability of that coffee while Robusta prices decreased .9% to about 67 cents per pound, according to the ICO report.
The composite indicator stopped trending downward and instead rose in March by about 7%, to about $1.09 per pound, which resulted in the second highest monthly average in coffee year 2019/20. World coffee consumption for coffee year 2019/20 is estimated to be about 170 million bags, which is about 1% higher than 2018/19 since the coronavirus COVID-19 threatens a worldwide decrease of coffee worldwide. Demand is currently projected to exceed production, but that could change.
