Coffee Market Report
October 2024
Member states, coffee industry leaders, and key stakeholders gathered in London on 11 and 12 September for the 138th Session of the International Coffee Council and the 6th CEOs & Global Leaders Forum.
Dive into the key discussions shaping the future of the coffee sector and discover the ICO’s unique role as a global platform for coffee diplomacy and industry-wide dialogue, through the perspectives of ICO delegates and partners.
Highlights
The ICO is delighted to announce the launch of our flagship Coffee Development Report (CDR) 2022–23, “Beyond Coffee: Towards a Circular Coffee Economy”, an in-depth examination of the circular economy’s transformative potential within the coffee sector. Produced through landmark collaboration with the International Trade Centre (ITC), the Centre for Circular Economy in Coffee (C4CEC), Lavazza Foundation, and Politecnico di Torino, with contributions from University College London, this CDR edition reflects the work of a diverse global multi-stakeholder group under the ITC Coffee Guide Network.
138th International Coffee Council (ICC) Programme of related meetings and events from 2-12 September 2024. London, United Kingdom.
The International Coffee Council is the highest authority of the Organization and is composed of representatives of each Member Government. It meets in March and September to discuss coffee matters, approve strategic documents and consider the recommendations of advisory bodies and committees.
We are pleased to release the programme for the 6th CEOs & Global Leaders Forum (CGLF). The event will take place on 11 September 2024 in London, United Kingdom, at the London Maritime Organization. The programme includes details on the panels, discussions, and other key events scheduled for the day.
The CGLF is a forum of senior executives of Private Sector entities that are signatories of the 2019 London Declaration. The Forum meets annually with ICO Members, relevant coffee stakeholders and development partners to consider the outcomes of the Coffee Public-Private Task Force (CPPTF).
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.
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.
What’s New
Watch the recording of the Coffee Development Report (CDR) 2022–23 launch webinar, “Beyond Coffee: Towards a Circular Economy in Coffee,” to explore how circular economy practices and regenerative agriculture can help close income gaps, reduce waste, and create a more sustainable future for the coffee industry. Now available on the International Coffee Organization’s YouTube channel.
With International Coffee Day 2024 taking place on 1 October, the International Coffee Organization invites all the coffee value chain stakeholders to Embrace Collaboration for Collective Action with the Message “Coffee: your daily ritual, our shared journey”
On 5 September 2024, the ICO’s Coffee Public-Private Task Force hosted an online webinar titled “Towards a Living & Prosperous Income in Mexico.” The event featured a dialogue (in Spanish language) highlighting collaborative efforts between the Government of Mexico, the CPPTF, and key partners. The session explored the progress made in addressing the living income gap in Mexico’s coffee-producing regions, including the 2021 Living Income study with CEGAM and the Anker Research Institute, as well as the 2022 cost analysis with the Committee on Sustainability Assessment (COSA).
The ICO, UNIDO and partners, have published 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).
The ICO Composite Indicator Price (I-CIP) averaged 258.90 US cents/lb in September, an 8.4% increase from August 2024. The I-CIP posted a median value of 264.57 US cents/lb and fluctuated between 241.20 and 272.70 US cents/lb. The September 2024 I-CIP is above the September 2023 I-CIP by 69.1%, with the 12-month rolling average at 201.71 US cents/lb.
World coffee exports amounted to 10.76 million bags in September 2024, compared with 8.62 million in September 2023. Exports throughout the 12 months of coffee year 2023/24 (October 2023 to September 2024) increased by 11.7% to 137.27 million bags compared to 122.92 million bags in the same period in 2022/23. In the twelve months ending September 2024, exports of Arabica totalled 84.68 million bags compared to 73.51 million bags last year; whereas Robusta exports amounted to 52.60 million bags compared to 49.41 million bags.
Get Connected
Bloomberg’s Wall Street Week segment on Fri, 15 Nov , featured our Executive Director, Vanusia Nogueira, in an interview focusing on the current dynamics of coffee supply and demand amidst climate challenges.
— International Coffee Organization (ICO) (@ICOCoffeeOrg) November 18, 2024
Watch it now on the ICO YouTube channel: ▶️https://t.co/QE0utOQYMO pic.twitter.com/dEsKCU2J26
📰 The @GCRmag Nov/Dec issue features an interview with Dock No, ICO Statistical Coordinator, exploring what’s driving volatility in coffee market prices. 📈☕️
— International Coffee Organization (ICO) (@ICOCoffeeOrg) November 14, 2024
📬👉https://t.co/0PhqIgJztz#Coffee #CoffeeNews #ICO #InternationalCoffeeOrganization pic.twitter.com/5Xacs8U0TV
ICO Coffee Development Report (CDR) 2022–23, 'Beyond Coffee: Towards a Circular Coffee Economy,' unveils income opportunities☕️🌱🔍
— International Coffee Organization (ICO) (@ICOCoffeeOrg) November 11, 2024
🗞️https://t.co/VK2b4CxBCp #Coffee #CoffeeCircularEconomy #ICO #C4CEC #CircularEconomy #SDGs #InternationalCoffeeOrg #ICO #Alliances4Action #ITC
☕️The report, “Beyond Coffee: Towards a Circular Coffee Economy”, is an in-depth exploration of the circular economy's potential within the coffee sector.
— International Coffee Organization (ICO) (@ICOCoffeeOrg) November 8, 2024
↘️Read the full press release for more insights here:https://t.co/VLtFpXLLlh
🌍 The G7 endorses the Global Coffee Sustainability & Resilience Fund, marking a new era for coffee! Read our press release on the ICO's unprecedent participation in the #G7 and discover what this milestone means for the global coffee sector.🌱☕️https://t.co/ALGwkir6c0 pic.twitter.com/bO9yBeGlsJ
— International Coffee Organization (ICO) (@ICOCoffeeOrg) October 25, 2024
📆 As of 1 October, Mr Tom Fabozzi is the new Chair of the International Coffee Council (ICC) for 2024/25, appointed at the 138th Session of the ICC. Under his leadership, we look forward to strengthening partnerships and creating new opportunities for the coffee sector. 🤝☕ pic.twitter.com/XH85iP7nKu
— International Coffee Organization (ICO) (@ICOCoffeeOrg) October 2, 2024
📅📣 👨🌾 Today is International Coffee Day 2024! Join us in celebrating the power of collaboration by enjoying a cup of coffee and sharing what coffee means to you in our shared journey.
— International Coffee Organization (ICO) (@ICOCoffeeOrg) September 30, 2024
🌱Happy International Coffee Day! #ICD2024 🎉 pic.twitter.com/8XmPBUy8vn
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.
Events
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.
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.
ICO
Store
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Email: info@ico.org
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