World coffee exports down 1.16 million bags in April from a year ago

World coffee exports dropped by 1.16 million bags in April over a year ago, according to International Coffee Organisation (ICO) statistics released on 1 June.  World coffee exports amounted to 8.77 million bags in April 2012, compared with 9.93 million in April 2011. Exports in the first seven months of coffee year 2011/12 (October 2011 to April 2012) have decreased by 4 per cent to 60.3 million bags compared to 62.83 million bags in the same period in the last coffee year, the ICO reported.  In the 12 months months ending April 2012, exports of Arabica totalled 64.03 million bags compared to 67.83 million bags last year; whereas Robusta exports amounted to 37.96 million bags compared to 35.52 million bags. The decrease in total coffee exports follows a drop in price, with the average ICO composite price for the month sitting at US$1.60 a pound, compared to US$2.31 in 2011. The ICO released a report in mid-May highlighting the significant drop in market price, despite little change in market fundamentals of supply and demand.