The ICO composite indicator keeps increasing. It is the 4th month in a row
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 February 2021.
In February 2021, the ICO composite indicator continued its upward trend, averaging 119.35 US cents/lb as prices for all group indicators rose. This is the highest monthly average since October 2017 when the ICO composite indicator reached 120.01 US cents/lb. Global exports in January 2021 totaled 10.21 million bags, compared with 10.59 million bags in January 2020, and shipments in the first four months of coffee year 2020/21 increased by 3.7% to 41.88 million bags. Exports from the world’s largest coffee-producing region, South America, increased by 15.5% to 23.26 million bags as shipments from Brazil grew by 24.3% to 16.77 million bags. However, exports from the other three regions declined in October 2020 to January 2021. Shipments from Asia & Oceania decreased by 3.9% to 12.19 million bags. Africa’s exports decreased 13% to 3.81 million bags as shipments from three of the region’s five largest producers declined. Shipments from Central America & Mexico fell by 17.5% to 2.62 million bags as parts of the region were severely affected by hurricanes Iota and Eta.