Green coffee prices continued in a downward slide through February, despite recent estimates that global production will result in a deficit this year, according to the latest monthly report from the London-based International Coffee Organization. The ICO’s composite indicator price — a historical data series that reflects price monitoring for coffees from all the world’s main growing regions — dropped to a monthly average of $1.411 USD per pound in February, a 4.6 percent decline from January and the lowest monthly average in a full year. The ICO attributes the price drop, which has followed a peak of $1.85 in October 2014, to “heavy selling pressure” in Brazil, where weather conditions have been favorable for the current crop.
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Japan ranks Number 3 in the world for coffee consumption and coffee shops are called Kissaten.