The International Coffee Organization (ICO) said its composite indicator price declined by 1.2% in February 2018 to an average of 114.19 US cents/lb.
Indicator prices for all three Arabica groups fell in February 2018 while the indicator price for Robusta increased slightly by 0.7% to an average of 89.24 US cents/lb, it said in its latest monthly market report.
Exports of Robusta coffee are estimated up 48.2% to 4.48 million bags in January 2018 and up 6.4% to 14.87 million bags for the first four months of coffee year 2017/18.
“This is largely due to increased shipments from Vietnam in January 2018, which are estimated at 3.29 million bags, nearly double the volume from one year ago. In the first four months of 2017/18, exports of Other Milds and Brazilian Naturals rose by 9.3% to 7.62 million bags and 2.2% to 13.31 million bags, respectively,” the report said.
Export growth for Other Milds was led by increased shipments from Honduras, while Ethiopia led the growth for exports of Brazilian Naturals.
In contrast, shipments of Colombian Milds during the same period fell by 10.9% to 4.94 million bags as excessive rains in Colombia have led to decreased output, the report said.
According to the report, global coffee exports during January 2018 totalled 11.01 million bags, up 20.7% compared to January 2017.
The total volume exported between October 2017 and January 2018 amounted to 40.74 million bags as against 39.53 million bags for the same period in 2016/17, an increase of 3.1%. Arabica exports reached 25.87 million bags during the first four months of coffee year 2017/18, 1.3% higher than the same period last year, while Robusta exports rose by 6.4% to 14.87 million bags.
Between October 2017 and January 2018, total exports of Other Milds and Brazilian Naturals both increased compared to the same period last year, reaching 7.62 million bags (+9.3%) and 13.31 million bags (+2.2%), respectively.
This offset reduction in shipments of Colombian Milds in the first four months of 2017/18, which declined to 4.94 million bags, 10.9% lower than the same period in 2016/17, the report said.