Although all average prices for all coffee groups fell in November, the I-CIP remained firm posting a median value of 156.83 US cents/lb.
The ICO reports that average prices for all coffee group indicators decreased in October 2022.
ICO’s I-CIP remains range bound since March 2022, averaging 197.13 US cents/lb for the seven months ending in September.
Ally Coffee to open a new office in Melbourne, Australia and expand sales and logistics operations to Oceania & Asia.
Ryan Delany, co-founder of and chief analyst at the Coffee Trading Academy, assesses the recent coffee year (21/22) as it comes to a close (30 September) and offers an outlook on the coming CY (22/23, beginning 1 October).
The ICO reports that low Arabica certified stocks and high volatility add pressure on the I-CIP, closing August at 208.37 US cents/lb.
The ICO Composite Indicator Price (I-CIP) gained 4.5% from May to June 2022, averaging 202.46 US cents/lb for the latter. Estimated total production in coffee year 2021-22 remains unchanged at 167.2 million bags, while world coffee consumption is still projected to grow by 3.3% to 170.3 million 60-kg bags in 2021-22.
In partnership with the Brazilian Embassy in Helsinki and ApexBrasil, the Brazil Specialty Coffee Association promoted Brazilian specialty coffees at the biggest coffee festival in the Nordic countries.
A marketplace for coffees vetted by Cup of Excellence National Jurists has launched for buyers in the US, Canada and the UK.
Lavazza is reaffirming its commitment to sustainable production and coffee farmer welfare with the relaunch of its premium range of sustainable, quality blends for coffee professionals.
The International Coffee Organisation announced that in February 2021, the ICO composite indicator continued its upward trend.