World coffee moderates its price in a year given the prospect of increased production

Published 2023년 3월 11일

Tridge summary

World coffee prices have seen a slight increase in February 2023, reaching nearly 175 US cents per pound, but have still fallen by over 25% since February 2022 due to improved supply. The International Coffee Organization (OIC) reports a 11.4% increase in average prices in February, with the composite index falling by 25% since the previous year. Coffee exports have also decreased by 6% in the first four months of the harvest. The United States Department of Agriculture predicts a rise in global coffee production and consumption for the 2022-2023 coffee year. However, the industry faces challenges such as weather conditions, rising production costs, and logistical issues. Despite these challenges, coffee has proven to be a resilient product in the face of the pandemic and is consumed more during crises, with efforts being made in innovation, sustainability, and product traceability by coffee companies.

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

Original content

World coffee prices have eased in the past year on the prospect of higher production, despite their latest rebound in February, to nearly 175 US cents (about 165 euro cents) per pound produced. The latest report from the International Coffee Organization (OIC) indicates that average prices per pound of coffee (equivalent to about 453 grams) increased by 11.4% in February compared to the previous month. However, given the improvement in supply, the composite index of this organization has fallen by more than 25% since February 2022, when it shot up above 200 cents (about 189 cents). The London futures market grew 9.8% in February and the ICE futures market in the United States contracted 13.2%, according to the OIC. In the first four months of the harvest, between October and January, coffee exports totaled about 39.9 million bags, 6% less than in the same period of the 2021-2022 season. The fall is more pronounced among mild coffees (14% in those of Colombia) compared to the ...

Source: PEefeagro