ICO: Coffee Market Ends 2016/17 In Deficit For Third Consecutive Year

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.

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