The ICO composite indicator continued to climb in January 2021 for Arabica, while Robusta has slighlty decreased
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 the 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 abstract of the ICO Market Report of January 2021
The ICO composite indicator continued to climb in January 2021, averaging 115.73 US cents/lb, 0.9% higher than last month. Prices for all Arabica indicators rose in January, while Robusta prices decreased by 1.8% to 70.71 US cents/lb. Exports in the first three months of coffee year 2020/21 were 31.59 million bags, 6.1% higher than in October to December 2019. In coffee year 2020/21, global production is estimated to rise by 1.9% to 171.9 million bags with Arabica production growing by 5.2% to 101.88 million bags. World coffee consumption is projected to increase by 1.3% to 166.63 million bags in 2020/21 as social distancing measures remain in place, limiting out-of-home consumption, and the global economy slowly recovers. While demand is expected to recover, the expected increase in global production could lead to a projected surplus of 5.27 million bags at the end of coffee year 2020/21. While current projections would negatively impact prices this year, the covid-19 pandemic remains an unprecedented and swiftly evolving situation.
Source: ICO Monthly Coffee Market Report