The ICO composite indicator price averaged 114 US cents/lb in December 2017, down 2.8 percent from November 2017. Prices for all groups of coffee fell over the course of the month, though the steepest decline occurred in Robusta prices. Exports in November 2017 were 9.2 percent lower than the same month last year on 9.02 million bags. Shipments of Arabica were 5.5 percent lower at 6.06 million bags while Robusta shipments decreased by 15.9 percent to 2.96 million bags. Global coffee output for 2017/18 is preliminary estimated at 158.78 million bags, 0.7 percent higher than last year. Arabica production is provisionally estimated at 97.32 million bags, 1.1 percent lower than last year due to an expected reduction in output from Colombia and Brazil. However, Robusta production is provisionally estimated 3.7 percent higher than last year at 61.46 million bags, due largely to growth in Vietnam.
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