Global: Ico Report shows sharp increase of all coffee prices in February

Published 2023년 3월 7일

Tridge summary

The ICO Composite Indicator Price (I-CIP) increased by 11.4% from January 2023 to February 2023, with average prices for all group indicators also increasing in February 2023. However, green bean exports in January 2023 were down 15.0% from the same month of the previous year, with the cumulative total exports for coffee year 2022/23 decreasing at an accelerated rate. South American exports of all forms of coffee also decreased by 19.9% in January 2023, driven by Brazil, Colombia, and Peru. In contrast, African exports increased by 19.5% to 1.11 million bags in January 2023, with Uganda being the main driver. The ICO is expected to publish new consolidated revised values for production and consumption for 2021/22 soon.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

LONDON, UK – The ICO Composite Indicator Price (I-CIP) gained 11.4% from January 2023 to February 2023, averaging 174.77 US cents/lb for the latter, whilst posting a median value of 173.20 US cents/lb, shows the ICO in its new market report. Average prices for all group indicators increased in February 2023. The Colombian Milds and Other Milds increased by 8.9% and 11.1%, to 238.39 and 229.73 US cents/lb, respectively, in February 2023. However, the Brazilian Naturals and the Robustas gained 14.8% and 8.3%, reaching an average of 195.18 and 103.93 US cents/lb. The London Futures market grew 9.8% whilst ICE’s New York market shrank by 13.2%. The Colombian Milds-Other Milds and Colombian Milds-Brazilian Naturals differentials are leading the way, shrinking 28.8% and 11.6% to 8.66 and 43.21 US cents/lb, respectively. The Other Milds-Brazilian Naturals differential also lost 5.9%, averaging 34.55 US cents/lb for the month of February 2023. Conversely, the Colombian Milds-Robustas and ...

Source: Comunicaffe