Other Arabica Milds fetch higher prices than Colombians

The International Coffee Organisation (ICO) had recorded its Other Milds category fetching record high prices, coming in at averages higher than Colombian Milds since 7 February. The ICO noted that this was the first time in its history that it has recorded a continuous negative price differential between the two. As of 17 July, the ICO Indicator price for Other Milds was US$1.88, versus $1.85 for Colombian Milds. The news follows reports of Colombia’s production figures being revised slightly higher to 11 million bags, with the country already producing 8.8 million bags for the first nine months of the 2013-14 crop year. This is 21.5 per cent higher than the same period in 2012-13, according to the ICO’s figures. Meanwhile, the ICO has said that total Arabica production will drop 4 per cent over the last crop year, largely due to damage from coffee leaf rust in Central America. Most Central American countries are grouped in this Other Milds category.