The ICO composite indicator rose slightly, but prices faltered towards the end of March
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 March 2021:
“The ICO composite indicator rose slightly, by 0.8%, in March averaging 120.36 US cents/lb compared to 119.35 US cents/lb in February, confirming an upward trend over the last five months. This is the highest monthly average since coffee year 2017/18. However, reversed this upward trend and prices weakened in the final days of the month, recording their lowest levels in the last two days of the month. Total exports by exporting countries to all destinations totaled 10.47 million bags in February 2021, compared with 11.16 million bags in February 2020. Cumulative exports from March 2020 to February 2021 are provisionally estimated at 128.57 million bags against 130.97 million bags recorded from March 2019 to February 2020. Exports over the first five months of coffee year 2020/21 totaled 52.81 million bags compared to 51.53 million in coffee year 2019/20. World consumption for coffee year 2020/21 is projected at 166.62 million bags, an increase of 1.3% on its level of 164.5 million bags in coffee year 2019/20. However, world consumption still falls by 3.11% below estimated total production of 171.89 million bags in coffee year 2020/21.” (ICO, 2021)
ICO. (2021). Coffee Market Report March 2021. Retrieved from http://www.ico.org/documents/cy2020-21/cmr-0321-e.pdf
Picture credits a: https://www.fodevarefokus.dk/wp-content/uploads/sites/4/Merrild_Lavazza_sortimentskatalog_2017_FINAL.pdf
Picture credits b: https://www.korabrewandwine.com/coffee/