exports
Arabica prices slip while Robustas record an uptick in final month of CY 2021/2022
ICO’s I-CIP remains range bound since March 2022, averaging 197.13 US cents/lb for the seven months ending in September.
Papua New Guinea creates new Minister for Coffee post
Papa New Guinea announced the creation of the Minister for Coffee role to help the industry grow, with a focus on international exports.
Robustas made the biggest gains in August, up 9.2%
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.
Coffee prices fall back below 200 US cents/lb in July 2022
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.
I-CIP rebounds to over 200 US cents/lb for the first time since February
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.
Africa’s contribution to global tea production escalates
Africa is home to thirteen tea-producing countries and their tea production is an essential part of the global tea economy, and in fact, represents the biggest share of the world’s tea exports.
The ICO unveils new International Coffee Agreement
The ICO reveals landmark 2022 International Coffee Agreement, formally welcoming the global private sector to key discussions on the future of coffee London.
Colcafé recognised with the National Exports Award 2021
Colcafé, Colombian roaster and grinder of coffee blends and manufacturer of instant coffee, has been awarded with a National Exports Award in recognition as an innovative global partner in coffee solutions.
FNC receives Authorized Economic Operator accreditation
FNC, the first large coffee exporter in Colombia, is accredited as Authorized Economic Operator.
Coffee prices reach multi-year high hitting 200 US cents/lb mark
The ICO reported that in December 2021 coffee prices broke through the 200 US cents/lb mark in a decade long high.
Coffee prices reach new highs for August 2021
According to the ICO’s latest report, coffee prices reached new highs in August 2021 as concerns about future supply and increasing freight costs remain the key drivers of the market.
Coffee prices jump double digits in May
The ICO reported that coffee prices surged higher in May 2021, showing signs of progressive recovery with revival in demand and concern over Brazil’s upcoming crop.
Coffee prices rally in April 2021
The ICO reports that coffee prices improved in April 2021.
Tetley Tea awards long term logistics & distribution contract to Port of Tyne
The contract covers the movement of thousands of tonnes of raw tea plus finished product each year.