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ICO reports sustained growth in June global coffee prices

GeoPolitical News, Coffee Index,

The International Coffee Organization´s latest composite indicator report [June 2019] quotes the monthly average composite indicator rose by 7.1% to 99.97 US cents/lb,   the  first  increase  in  the  monthly  average  since  January 2019. 

During May 2019,  world  coffee exports  rose  by 19.4%  to  11.6  million  bags  compared  to  May 2018  while  exports  in  the first  eight months of coffee year 2018/19 rose by 7.5% to 86.57 million bags. Demand for coffee appears to be strong as imports by ICO importing Members and the United States, which account for around 75% of global imports, increased by 4.9% to 66.56 million bags in the first six months of coffee year 2018/19.

Global coffee consumption is estimated to grow by 2% to 164.64 million bags in coffee year 2018/19. Despite the ongoing demand growth, a global production surplus of 3.11 million bags is expected in coffee year 2018/19. 

However this report is in sharp contrast to a recent statement by the Specialty Coffee Association of America who stated that in October a rising number of Central American farmers particularly those traveling with the migrant caravan have blamed a global coffee crisis as the primary reason they were forced to their abandon their coffee farms.

According to the SCAA over 60% of coffee farmers in Guatemala, Nicaragua, El Salvador and Mexico have reported food insecurity during the harvest cycle in the last 10 years.

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