ICO Reports Record Exports In Coffee For 2017/2018, October Increases Price Per Pound

Nov. 12, 2018

Coffee exports, as a total, have increased each singe since 2010/2011 with a new record reached this year at 121.86 million bags, 2 percent higher than 2016/17, according to the International Coffee Organization (ICO). In the 12 months that ended in September 2018, green Arabica exports were tallied at 70.95 million bags versus 70.51 million the previous year. Green Robusta exports equated to 39.24 million bags, an increase from 38.87 million bags. 

In terms of total shipments, all types of coffee increased in four out of the ten largest exporters for 2017/2018, including Brazil and Vietnam who are the largest exporters, ICO explains. Coffee consumption across the globe is estimated to be 161.93 million bags, driven by a 3.1 percent increase in Asia and Oceania’s consumption.  

While coffee consumption is estimated to be higher than last year, coffee production still exceeded demand by 1.59 million bags. This surplus and the higher volume of shipments contributed to the low prices in 2017/18. 

October 2018 

In October 2018, coffee prices reversed their four-month downward trend, reports the ICO. The monthly average of the ICO composite indicator increased to 111.21 US cents/lb in October 2018, an increase of 13.3 percent over September. Prices are still below the average for January 2008 to September 2018 which was 138.56 US cents/lb.  

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