São Paulo, 8 – The average of the composite indicator of prices of the International Coffee Organization (ICO) reached 195.17 cents per pound in November, informed the organization, in a monthly report. The figure represents the highest average since September 2011, when it reached 213.04 cents/lb. In comparison with November 2020, the increase is 77.9%.
The estimate of global production in the 2020/21 season, which ended in September, was practically unchanged, at 169.64 million bags of 60 kg. The projection represents an increase of 0.4% compared to the previous season. The estimate of world consumption was raised from 167.15 million to 167.67 million bags, which corresponds to an increase of 1.9% compared to 2019/20. As a result, the global surplus forecast was reduced from 2.487 million to 1.971 million bags.
World coffee exports dropped 4.4% last October, reaching 9.68 million bags of 60 kg, compared to 10.13 million bags in the same month in 2020, according to the ICO. October represents the first month of coffee year 2021/22.
South American shipments in October were down 20.6% year-on-year to 4.94 million bags. Exports from Asia and Oceania increased 25.8% to 3.13 million bags. Exports from Mexico and Central America increased 35% to 530,000 bags. Exports from Africa, on the other hand, grew 5.1%, to 1.1 million bags.
In the 12 months ending October 2021, Arabica exports totaled 81.29 million bags, compared to 79.10 million bags in the same period last year, which corresponds to an increase of 2.77%. Robusta exports in the period reached 47.19 million bags, compared to 49.05 million bags, or a drop of 3.8%.
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