MILAN – Coffee prices continued to slide in August, despite a brief bounce at the beginning of the month, say the ICO in its monthly report released on Friday.
The monthly average of the ICO composite indicator price dropped to its lowest level in nearly four years, as did the monthly averages of the three Arabica group indicators.
Total exports in July 2013 reached 9.1 million bags, 6.6% less than July 2012, but total exports for the first ten months of the coffee year are still up 3.6% at 94.5 million bags.
In terms of coffee consumption, an increase of 2.1% is estimated in calendar year 2012 to around 142 million bags, compared to 139.1 million bags in 2011, acording to the report.
Most of this increase can be attributed to strong growth in exporting countries and emerging markets, which grew by 2.5% and 4.7%, respectively.Consumption in traditional coffee-consuming countries grew by a more modest 1% compared to 2011.
Total production by all exporting countries in crop year 2012/13 has been revised downwards slightly to an estimated 144.4 million bags, up 7.6% on 2011/12.
In terms of exports, total shipments in July 2013 reached 9.1 million bags, down 6.6% on the same month last year. However, total exports for the first ten months of coffee year 2012/13 increased by 3.6% to 94.5 million bags, compared to 91.2 million in the same period in 2011/12, says the report.
World consumption in calendar year 2012 is estimated at around 142 million bags, a 2.1% increase on 2011. Consumption in traditional coffee-consuming countries reached 71.4 million bags, a modest 1% increase on the previous year.
The most dynamic growth in consumption in recent years has been in exporting countries and emerging markets.
The 50th anniversary meetings of the ICO kick off today through Thursday in Belo Horizonte, Minas Gerais.
The Opening Ceremony starts today at 09:00 local hour. All meetings will be held at the Expominas Conference Centre which will also host the international specialised trade fair Espaço Café Brasil.
In the framework of the event, Brazil’s government’s crop supply agency Conab is holding today a press conference to present the figures of its third estimate for the 2013 crop.
Find the report at the following link: http://www.comunicaffe.com/wp-content/uploads/2013/07/ico0713-e.pdf
