Coffee prices underwent further increases in September 2021 but volatility ...
7 October 2021
In September 2021, coffee prices reached new record highs as the monthly average of the ICO composite indicator price was 170.02 US cents/lb, an increase of 6.2% as compared to 160.14 US cents/lb in August 2021. These price levels during coffee year 2020/21 confirmed a net recovery from the low levels experienced over the last three coffee years. The coffee market continued to be driven by weather in Brazil and by covid-related disruptions affecting trade in Asia.
In terms of market fundamentals, exports of all forms of coffee by all exporting countries to all destinations totalled 10.1 million 60-kg bags in August 2021, the same level as in August 2020. Total exports of all forms of coffee over the first 11 months of coffee year 2020/21 (October 2020 – August 2021) amounted to 118.96 million bags, an increase of 1.9% compared with 116.77 million bags during the same period in coffee year 2019/20.
Cumulative exports from September 2020 to August 2021 are estimated at 129.55 million 60-kg bags, an increase of 2.1% compared with the 126.85 million bags recorded from September 2019 to August 2020. Global coffee consumption for coffee year 2020/21 is estimated at 167.26 million bags, an increase of 1.9% over 164.13 million bags recorded in coffee year 2019/20. The projection for total production in coffee year 2020/21 is 169.64 million bags, representing a marginal increase of 0.4% on the 169.0 million bags harvested in coffee year 2019/20. The projected total production of coffee year 2020/21 is 8.6% above the average of the last 10 coffee years. However, concerns over the supply from main origins still remain as climate-related shocks and covid-related disruptions continue to affect trade flows in many countries.
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|ICO Indicator prices
(US cents/lb) 2/2/2023
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ICO Coffee Break Series
The ICO has released research on the impact of covid-19 on the global coffee industry.
- Impact of covid-19 on the global coffee sector: The Demand Side (April 2020)
- Volatile coffee prices: covid-19 and market fundamentals (May 2020)
- Impact of covid-19 on the global coffee sector: Survey of ICO exporting Members (July 2020)
Coffee Development Report 2019. Growing for prosperity: Economic viability as the catalyst for a sustainable coffee sector (Published October 2019)
Futures markets: the role of non-commercial traders (Published March 2019)
Profitability of coffee farming in selected Latin American countries - interim report (Published March 2019)
Survey on the impact of low coffee prices on exporting countries (Published March 2019)
Emerging coffee markets: South and East Asia (Published September 2018)
Guide to Access Green and Climate Funding: The Global Environment Facility (Published October 2018)
Role of coffee futures markets in discovering prices for Latin American producers (Published September 2018)
National Quality Standards (Published September 2018)
Gender equality in the coffee sector (Published September 2018)
Maximum residue limits (Published September 2018)
Country Coffee Profile: Ghana (Published September 2018)
Mixtures and substitutes (Published September 2018)
Gender equality in the coffee sector (Published April 2018)
Development of coffee trade flows (Published April 2018)
ICO Coffee Library
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