ICO: Robusta Prices Increase To Five And A Half Year High
Source International Coffee Organization
The International Coffee Organization (ICO) released it's January 2017 Coffee Market Report. The ICO indicates:
"In January, the coffee market recovered from the fall in prices which was recorded towards the end of last year. While a price increase could be observed across all groups, it was most notable for Robusta. Exports for the first quarter of coffee year 2016/17 were 8.3% higher than last year at 29.8 million bags. Conab has released its first estimates of coffee production in Brazil for the upcoming crop year 2017/18, projecting a reduction of around 10% in crop compared to the current year. Large export volumes and the high levels of stocks in consuming countries seem likely to put pressure on price levels. "
