Sunday 16 June 2024
  • La Cimbali

ICO report shows strong increase in coffee exports

Must read

  • TME - Cialdy Evo
Demuslab

MILAN – Coffee prices saw a sharp rebound in the latter part of May and the first few days of June, reflecting renewed tensions on the physical market and the still uncertain outlook for production, supply and logistics. The statistical data published yesterday by the International Coffee Organization describe a strongly diverging trend in the ICO Composite Indicator Price (I-CIP) between the first and second half of the month. I-CIP in the first half of May, to a monthly low of 195.13 cents on 13 May.

It rose sharply in the second half, reaching a monthly high of 230.61 cents on 30 May. On the last day of the month, there was a strong downward correction.

However, the upward trend resumed in the first days of June, bringing the indicator once again back to the 230 cents area on 4 June.

Amidst ups and downs, the ICO Composite Indicator Price monthly average for May fell by 3.9 per cent to 208.38 cents. This represents a decrease of over 8.5 cents from the 216.89 cents recorded in April, which was the highest value observed over the past 13 years.

The ICO Composite Indicator Price (I-CIP) averaged 208.38 US cents/lb in May, a 3.9% decrease from April 2024. The I-CIP posted a median value of 204.11 US cents/lb, having fluctuated between 195.13 and 230.61 US cents/lb.

The Colombian Milds and Other Milds decreased by 3.4% and 3.2%reaching 233.50 and 232.11 US cents/lb, respectively, in May 2024.

Gimoka

The Brazilian Naturals contracted 4.1% to 209.78US cents/lb in May 2024.

The Colombian Milds–Other Milds differential contracted from 2.07 to 1.39 US cents/lb.

The arbitrage, as measured between the London and New York Futures markets, measured a 4.3% increase to 43.74 US cents/lb in May 2024.

The intra-day volatility of the I-CIP increased by 4.3 percentage points to 12.3% between April and May 2024.

Global green bean exports in April 2024 totalled 10.77 million bags, as compared with 9.34 million bags in the same month of the previous year, up 15.3%.

Shipments of the Other Milds decreased by 9.1% in April 2024 to 2.07 million bags from 2.28 million bags in the same period last year.

Green bean exports of the Brazilian Naturals increased in April 2024, rising by 44.9% to 3.83 million bags from 2.64 million bags in April 2023.

Exports of the Colombian Milds increased by 5.4% to 0.86 million bags in April 2024 from 0.82 million bags in April 2023.

Green bean exports of the Robustas were up 13.4% to 4.08 million bags in April 2024 from 3.6 million bags in April 2023.

Exports of all forms of coffee from Asia & Oceania decreased by 0.3% to 3.78 million bags in April 2024.

Exports of all forms of coffee from Africa increased by 39.4% to 1.37 million bags in April 2024 from 0.99 million bags in April 2023.

In April 2024, South America’s exports of all forms of coffee increased by 44.5% to 5.15 million bags.

In April 2024, exports of all forms of coffee from Mexico & Central America were down 12.6% to 1.66 million bags, as compared with 1.9 million in April 2023.

Total exports of soluble coffee decreased by 24.8% in April 2024 to 1.06 million bags from 0.85 million bags in April 2023.

CIMBALI

Latest article

  • Franke Mytico
  • Dalla Corte
  • DESCAMEX COFFELOVERS 2024