ICO Reports Lowest Coffee Prices In Four Years For August 2013

Sept. 9, 2013

The International Coffee Organization (ICO) reports that coffee prices continued to slide in August, despite a brief bounce at the beginning of the month, in its August Coffee Market Report. The monthly average of the ICO composite indicator price dropped to its lowest level in nearly four years, as did the monthly averages of the three Arabica group indicators. Total exports in July 2013 reached 9.1 million bags, 6.6 percent less than July 2012, but total exports for the first ten months of the coffee year are still up 3.6 percent at 94.5 million bags. In terms of coffee consumption, an increase of 2.1 percent is estimated in calendar year 2012 to around 142 million bags, compared to 139.1 million bags in 2011. Most of this increase can be attributed to strong growth in exporting countries and emerging markets, which grew by 2.5 percent and 4.7 percent, respectively.

Consumption in traditional coffee-consuming countries grew by a more modest 1 percent compared to 2011. Full report.