Coffee prices continued a decline in December 2014, with the monthly average of the ICO composite indicator at its lowest level since February, according to the International Coffee Organization’s (ICO) December 2014 Coffee Market Report.
The official Conab forecast has provisionally estimated production in 2015/16 at between 44.1 and 46.6 million bags, with production in 2014/15 revised up slightly to 45.3 million bags (7.7% less than 2013/14). World production in crop year 2014/15 is provisionally estimated at 141.4 million bags, 3.6% less than the 146.8 million bags produced in 2013/14, which has also been revised upwards.
The daily price of the ICO composite indicator fell consistently in December, from a high of 160.43 US cents/lb on the first of the month, to a low of 142.29 cents on the 29th. The monthly average came to 150.66 cents, its lowest level in ten months. Full report.
