International Coffee Organization: Global Coffee Prices Show Mixed Trends in November
In the latest release of the International Coffee Organization Indicator Prices (I-CIP) for November 2023, the global coffee market witnessed a varied performance across different categories.
The I-CIP, measured in US cents/lb, provides insights into the price movements of Colombian Milds, Other Milds, Brazilian Naturals, and Robustas throughout the month.
Colombian Milds:
The month kicked off with a price of 153.32 US cents/lb, reaching its peak at 166.38 US cents/lb on November 15. The average price for Colombian Milds settled at 160.74 US cents/lb, reflecting a robust market performance. However, the coffee variety experienced fluctuations, with a low of 153.32 US cents/lb observed on November 1.
Other Milds:
Other Milds followed a similar pattern, starting at 187.15 US cents/lb and reaching a high of 199.49 US cents/lb on November 13. The average price for Other Milds in November stood at 195.41 US cents/lb, showcasing a competitive market for this coffee category.
Brazilian Naturals:
Brazilian Naturals displayed a slightly different trend, beginning the month at 186.58 US cents/lb and peaking at 203.23 US cents/lb on November 15. The average price settled at 196.47 US cents/lb, indicating a noteworthy performance for this coffee variety throughout November.
Robustas:
Robustas started the month at 158.95 US cents/lb and reached their highest point at 174.72 US cents/lb on November 15. The average price for Robustas settled at 168.48 US cents/lb, showcasing resilience in the market.
Overall Market Performance:
The ICO composite indicator price for November 2023 reported an average of 121.69 US cents/lb, with the highest point at 127.30 US cents/lb and the lowest at 116.54 US cents/lb. The market showed a blend of highs and lows, reflecting the dynamic nature of the global coffee industry.
ICO’s Move to a New Pricing System:
It’s essential to note that since May 2021, the International Coffee Organization has transitioned to a new system for collecting prices. For further details on this change, interested parties can refer to the official document here.
As coffee enthusiasts and industry stakeholders analyze the November 2023 I-CIP data, it becomes evident that the global coffee market remains dynamic, with each coffee variety exhibiting unique price movements and contributing to the overall narrative of the industry’s health and stability.
