LONDON – New market shares and their weightings in the calculation of group indicator and ICO composite prices effective from 1 October 2013 were issued yesterday by the ICO.
Background
1. The Rules on Statistics – Indicator Prices – of the International Coffee Organization contained in document ICC‐105‐17 were formally approved by the International Coffee Council at its 106th Session in March 2011.These Rules came into effect on 1 March 2011 after the entry into force of the International Coffee Agreement 2007 on 2 February 2011.
2. In accordance with the established Procedures, the Statistics Committee has analysed the pattern of trade in the period 2009 to 2012 and concluded that the calculation of prices should be changed in order to reflect the reality of the markets. At its 110th Session on 7 March 2013 the Council approved revised shares of the markets in each group of coffee and their weightings for the calculation of group and composite indicator prices as from 1 October 2013.
3. It should be noted that all other terms and conditions set out in document ICC‐105‐17 – Rules on Statistics – Indicator Prices, which also contains the procedures for the collection, transmission, calculation and publication of group and composite prices, remain unchanged.
4. The attached Annex (see table below) containing details of the new methodology replaces Annex I of document ICC‐105‐17 with effect from 1 October 2013.
Share of markets and their weightings in the calculation of group and composite prices from 1 October 2013 (click on the table to enlarge).
