World coffee moderates its price in a year given the prospect of increased production
Raw Common Coffee Bean
Published Mar 11, 2023
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 ...
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