t level since November 1994 when they averaged 153.33 US cents/lb.
Disruption in Coffee Supplies and Transportation Negatively impacts Prices
Supplies are getting tighter with the realization that ICO has cut its forecast to 1.2 million bags from their January estimate of 2.41 million coffee bag inventories falling by -0.6% month to month and -0.8% year to year and ICE reporting coffee inventories falling to their lowest levels in 22 years last Thursday. There are logistical disruptions in all facets of the supply chain: immigrant increases in countries that produce coffee is affecting production of coffee plus the increased costs of moving coffee from origin to consuming countries and the possibility of a long drawn war between Russian and Ukraine. All these factors are putting tremendous pressure on coffee prices. Navigating these challenging times has become the new norm and a new normal. We continue to persevere and do our best to get you, our customers the coffee you need at the right time and right price as much as possible.
