The International Coffee Organization’s (ICO) June 2024 market report shows its Composite Indicator Price (I-CIP) averaged at 226.83 US cents per pound in June, showing an 8.9 per cent increase from May 2024.
It also posted a median value of 225.70 US cents per pound, and fluctuated between 221.71 and 235.69 US cents per pound.
The London certified stocks continued to expand in June 2024 and increased by 24.3 per cent to 0.97 million bags. Certified stocks of Arabica coffee also showed an increase from May 2024, and reached 0.86 million 60-kilogram bags, a 2.8 per cent increase compared to May 2024.
The Colombian Milds and Other Milds increased by 7.2 per cent and 7.0 per cent, reaching 250.39 and 248.39 US cents per pound, respectively, in June 2024. The Colombian Milds–Other Milds differential expanded from 1.39 to 2.00 US cents per pound.
The intra-day volatility of the I-CIP remained stable at 12.3 per cent between May and June 2024.
Global green bean exports in May 2024 totalled at 10.76 million bags, as compared with 9.61 million bags in the same month of the previous year, and is up 12.0 per cent.
Shipments of the Other Milds increased by 1.2 per cent in May 2024 to 2.57 million bags from 2.54 million bags in the same period last year.
Green bean exports of the Brazilian Naturals increased in May 2024, rising by 56.1 per cent to 3.8 million bags from 2.43 million bags in May 2023, and were the main group responsible for the overall strong growth observed in May 2024.
Exports of the Colombian Milds increased by 10.0per cent to 1.01 million bags in May 2024 from 0.91 million bags in May 2023.
In contrast, green bean exports of the Robustas were down 13.4 per cent to 3.39 million bags in May 2024 from 3.73 million bags in May 2023.
Exports of all forms of coffee from Asia & Oceania decreased by 39.3 per cent to 2.42 million bags in May 2024.
In May 2024, South America’s exports of all forms of coffee increased by 59.6 per cent to 5.54 million bags.
Exports of all forms of coffee from Africa increased by 44.8 per cent to 1.74 million bags in May 2024 from 1.21 million bags in May 2023.
In May 2024, exports of all forms of coffee from Mexico and Central America were up 0.2 per cent to 2.074 million bags, as compared with 2.069 million in May 2023.
Total exports of soluble coffee decreased by 11.3 per cent in May 2024 to 0.95 million bags from 1.07 million bags in May 2023.
Soluble coffee’s share in the total exports of all forms of coffee for the year to date was 8.9 per cent in May 2024, down from 9.4 per cent in the same period a year ago.
For the full report, click here.
