Coffee prices rallied in April 2021 amid an anticipated decline in production and signs of economic recovery from the covid-19 pandemic
ArtOn Café is proud to publish a monthly abstract of the ICO reports. On our website we have added the graphs of the London and New York stock exchanges. The former concerns Robusta coffee, while the latter refers to Arabica coffee. We have also added an interesting banner that presents the EUR to USD exchange rate. Please visit our website to access all these details.
The following is an excerpt from the ICO market report of April 2021:
In April 2021, the ICO composite indicator rose by 1.4% to 122.03 US cents/lb as prices for all group indicators increased. Over the last six months, coffee prices have recorded a steady increase in monthly averages despite a few daily slumps. Relatively firm prices seem to encourage sales as world coffee exports amounted to 11.9 million 60-kg bags in March 2021, 2.4% higher than in March 2020. Shipments in the first half of coffee year 2020/21 increased by 3.5% to 65.4 million bags compared to 63.2 million bags recorded over the same period in coffee year 2019/20. However, cumulative exports from April 2020 to March 2021 are provisionally estimated at 129.5 million bags, a 1% decrease compared with the 130.8 million bags recorded from April 2019 to March 2020. World consumption for coffee year 2020/21 is projected at 166.3 million bags, an increase of 1.3% on its level of 164.2 million bags in coffee year 2019/20. The ICO has revised its production estimate for the current coffee year downwards, owing to Brazil’s smaller 2021/22 Arabica crop. Despite this, world consumption is forecast to remain at 2% below total production of 169.6 million bags in coffee year 2020/21.
ICO. (2021). Coffee Market Report April 2021. Retrieved from https://www.ico.org/documents/cy2020-21/cmr-0421-e.pdf