The International Coffee Organization (ICO) said its key price indicator lost 2.4% from April to May 2022, averaging 193.71 US cents/lb for the latter.
Average prices for all groups indicators decreased in May 2022. Prices for Brazilian Naturals out performed all growths by declining 3.7% to 217.84 US cents/lb from April to May 2022, it said in its latest monthly report.
Other market highlights for April:
- The differentials between the Colombian Milds and Other Milds decreased by 4.5%, from 27.24 to 26.02 US cents/lb over April to May 2022. Presenting the strongest growth for this period is the Other Milds and Brazilian Naturals differential, rising by 8.4% from 39.28 to 42.57 US cents/lb
- Arbitrage between New York and London closed the gap from 130.30 to 124.30 US cents/lb, presenting a 4.6% decrease.
- Intra-day volatility of the I-CIP gained 1.9 percentage points between April and May 2022, reaching 10.5%.
- The New York certified stocks lost 3.3% from the previous month, closing in at 1.16 million bags whilst certified stocks of Robusta coffee for London reached 1.71 million bags, representing an increase of 9.6%.
- Global exports of green beans in April 2022 totalled 9.86 million 60-kg bags, compared with 10.16 million bags in the same month of the previous year. Exports reached 69.67 million bags in the first seven months of coffee year 2021/22, a decrease of 0.9% as compared with 70.28 million bags for the same period in coffee year 2020/21.
- From October 2021 to April 2022, South America’s exports decreased by 12.7% to 33.8 million bags.
- Exports from Asia & Oceania increased by 20.9% to 3.96 million bags in April 2022, and by 9.0% to 28.06 million bags in the first seven months of coffee year 2021/22.
- Exports from Africa decreased by 10.1% to 1.08 million bags in April 2022 from 1.2 million bags in February 2021.
- In April 2022, exports from Mexico & Central America were up 0.8% to 2.1 million bags as compared with 2.06 million in April 2021.
- Total exports of soluble coffee shrunk by 2.1% in April 2022 to 0.99 million bags from 1.01 million bags in April 2021.