Coffee Market Report

July 2024

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Current month of I-CIP

Highlights

Find the 138th International Cofffee Council (ICC) Programme of related meetings and events from 2-12 September 2024. London, United Kingdom.

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We are pleased to announce the publication of the Annual Review of the Organization for coffee year 2022/23, which focuses on “Stronger Partnerships: Solutions to overcome regulatory and market challenges”.

 

Check out the document now available.

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Since its inception, the ICO has been consistently engaged in assisting its Members with the development, fund mobilization, implementation, monitoring and evaluation of coffee sector development projects aiming to promote sustainable growth for the benefit of all stakeholders, from coffee farmers to consumers.

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Expectation and belief in the capacity of young people in coffee-producing countries (CPCs), as well as those engaged in all components of the coffee supply chain, including baristas and consumers, have inspired and motivated the preparation of this CDR. Engaging effectively with and providing tools and resources to the coffee sector‘s Next Generations is, after all, not an aim but a must.

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136th International Coffee Council

Within the World Coffee Conference 2023, the 136th International Coffee Council chaired by Mr. Fabian gathered ICO Members around key topics impacting the sector, including the Coffee Task Force and new partnerships for funding farmers and producing countries, and the circular economy and the compliance with new regulations.

Coming soon

CPPTF: 4th CEOs and Global Leaders Forum

The International Coffee Organization and its Coffee Public-Private Task Force has convened its members and other stakeholders and development partners to attend the 4th CEOs & Global Leaders Forum, powered by IDH – The Sustainable Trade Initiative. The successful outcome of the 4th Forum was the release of a Communiqué expressing the commitment of companies and organizations of the coffee industry, and the ICO Members, to endorse the implementation of the 2020-2030 Roadmap.

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What’s New

ICO, UNIDO and partners,  publish the report “Sustainability & Resilience of the Global Value Chain: Towards a Coffee Investment vehicle”. Read the press release announcing the leading new concrete efforts to foster sustainability in the Coffee Global Value Chain (C-GVC). 

Read the joint press release

The ICO Composite Indicator Price (I-CIP) averaged 236.54 US cents/lb in July, a 4.3% increase from June 2024. The I-CIP posted a median value of 237.05 US cents/lb and fluctuated between 224.77 and 251.68 US cents/lb. The July 2024 I-CIP is above the July 2023 I-CIP by 48.9%, with the 12-month rolling average at 185.86 US cents/lb.

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World coffee exports amounted to 10.78 million bags in June 2024, compared with 10.39 million in June 2023. Exports in the first nine months of coffee year 2023/24 (October 2023 to June 2024) increased by 10.1% to 103.47 million bags compared to 93.99 million bags in the same period in 2022/23. In the twelve months ending June 2024, exports of Arabica totalled 81.32 million bags compared to 74.93 million bags last year; whereas Robusta exports amounted to 51.08 million bags compared to 49.5 million bags.

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ICO partners with G7 to enhance Climate Adaptation and Sustainability in the Coffee Value Chain (CVC)

The G7 Climate, Energy and Environment Ministers, at their meeting in Turin from 29 to 30 April 2024, agreed to enhance climate adaptation and singled out sustainability in the coffee value chain in their communiqué. The Italian G7 Presidency has prioritized coffee as a strategic commodity, placing it at the forefront of the agenda also for the upcoming summit in Borgo Egnazia, Puglia, from 13 to 15 June, and will promote the establishment of a Blended Coffee Sustainability and Resilience Fund at the G7 Ministers’ Meeting on Development in Pescara (24-25 October).

Read the communiqué
Read the ICO press release

Launch of the new ‘Center for Circular Economy in Coffee’

During the World Coffee Conference promoted by the International Coffee Organization and jointly organized with the Government of India and its Coffee Board in Bangalore, was announced the launch of the new Center for Circular Economy in Coffee.

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EUDR Information System – Demo and Discussion for Coffee Stakeholders

On 14 February 2024, the ICO, European Coffee Federation (ECF), Global Coffee Platform (GCP), and the Sustainable Coffee Challenge co-hosted a webinar on the EUDR Information System. Over 600 attendees had the opportunity to learn more about this key component for compliance with the regulation.

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The Coffee Report and Outlook (CRO) is the bi-annual report of the International Coffee Organization, providing an up-to-date snapshot of the 2022/23 coffee year’s production and consumption, and the outlook for 2023/24. It is based on a new methodology for calculating production and consumption, providing a meaningful update to the legacy model.

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Get Connected

The ICO’s mission is to strengthen the global coffee sector and promote its sustainable expansion in a market-based environement for the betterment of all actors in the coffee sector.

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Events

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International Coffee Day (ICD)

On 1 October, we celebrate the International Coffee Day, an opportunity for coffee lovers to share their love of the beverage and support the millions of farmers whose livelihoods depend on the aromatic crop.

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Coffee Sector Events

Discover the latest events organised by the coffee sector and follow ICO and the Coffee Public-Private Task Force next high level events and international meetings.

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