Green coffee prices worldwide continued to drop in September, reaching their lowest composite price since April 2009, according to the latest statistics from the London-based International Coffee Organization.
The ICO indicator — which has for decades provided an historical snapshot of green coffee prices and production levels in the world’s coffee-producing countries — dipped 4 percent last month to 111.82 cents (US) per pound. The sharpest decline was observed in robustas, which dropped by 6.6 percent to 87.78 cents/lb to their lowest monthly average in nearly three years. Colombian Milds, Other Milds and Brazilian Naturals all fell by 3.2 percent, 2.1 percent and 3.6 percent, respectively, the ICO says.
Despite leaf rust dramatically affecting output in several Central American countries, the ICO’s estimates for the 2012/2013 crop year is 145.2 million bags, 9.6 percent higher than the previous year. With the crop year now finished in all exporting countries, robustas jumped by 11.6 percent to 56.4 million bags, while Arabicas are up 8.4 percent to 88.8 million bags.
Nick Brown is the editor of Daily Coffee News by Roast Magazine. Feedback and story ideas are welcome at publisher (at) dailycoffeenews.com, or see the "About Us" page for contact information.