Coffee prices surged higher in May 2021 showing signs of progressive recovery ......
4 June 2021
In May 2021, the ICO composite indicator rose by 10.4% to 134.78 US cents/lb, the highest monthly average since the level of 137.68 US Cents/lb registered in February 2017. A firm upward trend of coffee prices over the first eight months of coffee year 2020/21 seems to confirm a net recovery from the low price levels that began in coffee year 2017/18. The price performance has been driven by an expected reduction in production in key exporting countries like Brazil for the 2021/22 season. Moreover, the brighter prospects for demand as the covid-19 pandemic-related lockdown measures are being removed in major consuming markets with the covid-19 vaccine programmes is generating greater confidence of consumers in an economic recovery and return to normal. Prices of all four groups of coffee have recorded a substantial increase, particularly the groups of Arabica coffee. In terms of market fundamentals, shipments by exporting countries to all destinations totalled 11.40 million 60-kg bags in April 2021, compared with 11.29 million bags in April 2020. As a result, total exports over the first 7 months of coffee year 2020/21 amounted to 77.52 million bags compared to 74.49 million bags over the same period in coffee year 2019/20. Cumulative exports from May 2020 to April 2021 are estimated at 130.40 million bags, a small decrease of 0.48% compared with the 130.97 million bags recorded from May 2019 to April 2020. World consumption for coffee year 2020/21 is projected at 167.58 million bags, an increase of 1.9% on its level of 164.43 million bags in coffee year 2019/20. Total production for coffee year 2020/21 is estimated at 169.60 million bags, representing a 0.4% increase on 168.94 million bags in coffee year 2019/20. Although world consumption is increasing, it remains 1.2% below world production. However, with prospects of lower production in Brazil for coffee year 2021/22 and the reductions in other countries, world consumption is likely to exceed world production in coffee year 2021/22. Find out more in the ICO's latest Coffee Market Report>>
|ICO Indicator prices
(US cents/lb) 2/2/2023
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Latest ICO Studies & Reports
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)
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
The ICO has a unique Library containing an international reference collection, built up over 40 years of more than 13,000 monographs (books, reports, theses, pamphlets) and over 200 periodical titles covering all aspects of coffee.