ICO: Coffee Prices Rose Slightly In January 2019
Source International Coffee Organization
The International Coffee Organization (ICO) reports that the ICO composite indicator increased by 0.9 percent in January of 2019 to 101.56 U.S. cents/ pound for all group indicators. It began at a low of 99.16 cents/pound and increased over the month to end at a high of 103.58 cents/pound.
Colombian Milds and Other Milds rose by 1.1 percent to 129.28 cents/pound and 128.46 cents/pound respectively. Robusta prices increased 0.9 percent to 78.24 cents/pound while prices for Brazilian Naturals increased by 0.8 percent or 102.94 cents/pound. "The strengthening of the Brazilian real against the U.S. dollar in January 2019, particularly since the depreciation in September 2018, lent support to coffee prices this past month," explained the ICO.
Demand for coffee remained strong, illustrated by increased shipments in the first quarter of coffee year.
