ICO: Coffee Market Ends 2016/17 In Deficit For Third Consecutive Year
Oct. 12, 2017
Source International Coffee Organization (ICO)
The International Coffee Organization (ICO) composite indicator continued its downward trend that started at the end of August, averaging 124.46 US cents/lb. Prices for all groups fell in September, though Robusta saw the largest decline of 5.1% compared to August. This brings coffee year 2016/17 to an end, and global production is estimated at 153.9 million bags, a 1.5% increase on 2015/16. With world consumption at 155.1 million bags, this gives a global deficit of 1.2 million bags.