Coffee Market Report September 2023
Robustas remain above 120.00 US cents/lb
• The ICO Composite Indicator Price (I-CIP) averaged 153.13 US cents/lb in September, posting a median value of 152.74 US cents/lb and fluctuating between 147.86 and 160.17 US cents/lb.
• The Robustas remained at a near-record high in September, staying above the 120.00 US cents/lb. mark.
• The Colombian Milds-Other Milds differential grew 79.1% to 1.46 US cents/lb.
• In September 2023, the Colombian Milds-Other Milds Arabica differential fluctuated between positive and negative.
• Arbitrage, as measured between the London and New York Futures markets, narrowed by 1.8% to 44.41 US cents/lb in September 2023.
• Intra-day volatility of the I-CIP followed a consistent downtrend, reaching 6.3%, a 0.7 percentage point decrease between August and September 2023.
• The New York and London certified stocks moved in opposite directions, where London grew 25.7% to 0.73 million 60-kg bags, whilst stocks of Arabica coffee reached 0.49 million 60-kg bags, a 13.8% decrease.
• Global green bean exports in August 2023 totaled 9.36 million bags, as compared with 9.07 million bags in the same month of the previous year, up 3.2%.
Read full report here: https://www.icocoffee.org/documents/cy2022-23/cmr-0923-e.pdf?mc_cid=3df6f47070