With global green bean exports falling 20.23% to 7.94 million bags in February, the ICO sees another year of supply deficit, with a shortfall of 7.3 million bags for CY 2022/23.
The global green tea market continues to trend in a positive direction, with signs of further development. The evidence supporting green tea’s improved status can be seen in areas of production, exports, and consumption in major domestic markets. By Jason Walker
Reduced exports for current coffee year drive the ICO’s I-CIP up 11.4% in February 2023.
Amid fluctuations and a slight price drop, the I-CIP picked up in January.
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.
In a highly complex market, the Western specialty tea stakeholders are striving to achieve a unified operational framework for ‘specialty’ tea – a high added value segment – to ensure a level playing field for the global value chain.
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) was down 5.7% from June to July 2022, averaging 190.82 US cents/lb for the latter.
After centuries of black tea as the exclusive cup in Europe, a skillful marketing of green teas started in the 1990s, based on a health benefits strategy initiated by multinational tea majors in the mainstream market, together with a novelty origin approach launched by China in the premium segment.
IDH Farmfit Fund has announced the close of a credit facility of up to USD $1,000,000 to support ACOM’s unique financing programme, which provides growth opportunities for smallholder coffee farmers across Vietnam.