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Sep 1st, 2020
Monthly Coffee Market Report - September 2020
Global coffee production in 2019/20 is estimated at 169.34 million bags, 2.2% lower than last year, as output of Arabica decreased by 5% to 95.99 million bags, while that of Robusta rose by 1.9% to 73.36 million bags. World coffee consumption is expected to decrease by 0.5% to 167.81 million bags as the covid-19 pandemic continues to put pressure on the global economy and greatly limits out-ofhome coffee consumption. As a result, coffee year 2019/20 is seen ending in a surplus of 1.54 million bags. This compares to a surplus of 4.4 million bags in 2018/19. The two consecutive surpluses have limited a recovery in prices, which remain below the long-term average of 135.34 US cents/lb between 2007 and 2018. The ICO composite indicator in September rose by 1.3% to 116.25 US cents/lb. It averaged 107.25 US cents/lb in coffee year 2019/20, 6.7% higher compared to 2018/19. All group indicator prices rose in September 2020 for the third consecutive month, with the largest increase occurring for Other Milds.