ICO: Coffee Prices Increase As Concerns About Brazil's Crop Emerge

The ICO composite indicator price rose above 130 US cents/lb for the first time since April as reports emerged from Brazil about lower yields and quality issues related to the 2017/18 crop. Coffee exports have stabilized in the last two months but cumulative exports remain well above the levels reached in the previous year and leave consumer stocks well supplied. The production estimate for 2016/17 has been revised up to 153.9 million bags, which constitutes an all‐time record. The output of Arabica and Robusta is estimated to be 10.2% higher and 10.6% lower compared to coffee year 2015/16, respectively.