The average of the ICO's composite indicator rose by 10.7% in August, reaching 114.78 cents/lb. For the second consecutive month, all group indicator prices rose.
The average of the ICO composite indicator in August rose by 10.7% to 114.78 US cents/lb. All group indicator prices rose in August 2020 for the second consecutive month with the largest increase occurring for Brazilian Naturals. In July 2020, world coffee exports fell by 11% to 10.61 million bags compared to July 2019, and Other Milds recorded the largest decrease. In the first ten months of coffee year 2019/20, global exports reached 106.59 million bags, 5.3% lower than the same period in 2018/19. World coffee production is estimated at 169.34 million bags in 2019/20, 2.2% lower than last year while global consumption is estimated to rise by 0.3% to 168.39 million bags in 2019/20. As a result, there is an estimated surplus of 952,000 bags. Read more here.
