Report: October 2013 Coffee Prices Decline, Robustas Fall 4.6 Percent

Coffee prices hit four-year record lows in October 2013, while total exports for 2012/2013 showed record volumes, according to the International Coffee Organization. The ICO price average indicated a 4.3 percent price decrease from September 2013 to October 2013. Robustas fell 4.6 percent to 83.70 U.S. cents per pound.

World consumption for 2012/2013 is reported to have grown 2.4 percent. The ICO reports that coffee leaf rust in Central America is expected to impact the 2013/2014 results. The report also determined that the current low prices would discourage farmers from investing and maintaining their crops, which may impact production in the future. Full report.