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.
Costa Rica’s coffee industry has been dealing with a multitude of factors that have negatively affected production, and while these challenges are not going away anytime soon, looking ahead, there is reason to be optimistic.
ICO’s I-CIP remains range bound since March 2022, averaging 197.13 US cents/lb for the seven months ending in September.
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) was down 5.7% from June to July 2022, averaging 190.82 US cents/lb for the latter.
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.
The ICO reveals landmark 2022 International Coffee Agreement, formally welcoming the global private sector to key discussions on the future of coffee London.
The ICO Composite Indicator Price for March averaged 194.78 US cents/lb 2022, a fall of 7.6% in comparison with the previous month, breaking a streak of 17 consecutive months of increases.
The ICO Composite Indicator Price (CIP) rose to 210.89 US cents/lb, a 3.2%, increase month-on-month, in February 2022, which marks 17 consecutive months of growth.