Global coffee prices close 2022 on stable note: ICO

International coffee prices closed year 2022 on a stable note as they saw a slight increase in December 2022.

International coffee prices closed year 2022 on a stable note as they saw a slight increase in December 2022. The latest International Coffee Organization (ICO) Composite Indicator Price (I-CIP) gained just 0.3 per cent from November to December 2022, averaging 157.19 US cents per pound.

"Average prices for all group indicators remained stable, with a slight increase in December 2022," International Coffee Organisation said in its latest coffee market report. The Colombian Milds, Brazilian Naturals and Robustas increased by 0.4 per cent, 1.5 per cent and 1.3 per cent, respectively, month-on-month in December 2022. They averaged 224.12, 169.00 and 93.76 US cents per pound.

Coming to global green bean exports in November 2022, the total was 9.21 million bags, as compared with 8.31 million bags in the same month of the previous year, up 10.8 per cent. The export data for December is yet to be published. "The positive growth was driven by the Brazilian Naturals and Robustas, which saw their exports increase by double digits, while the Colombian and Other Milds suffered from double-digit decreases," the report stated further.

The cumulative total for 2022-23 (up to November) is 17.63 million bags as compared with 17.03 million bags over the same period a year ago, data showed. Exports by Regions - All Forms of Coffee:

In November 2022, South America's exports of all forms of coffee increased by 4.7 per cent to 4.96 million bags. Exports of all forms of coffee from Asia and Oceania increased by 19 per cent to 3.78 million bags.

Exports of all forms of coffee from Africa increased by 6.8 per cent to 1.09 million bags in November 2022 from 1.02 million bags in November 2021. (ANI)

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