Coffee prices worldwide reached their lowest since February 2014, largely driven by improved expectations for Brazil’s 2015/16 crop, according to the December 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 — dipped to a low of $1.422 USD per pound in December, finishing the month at a 10-month low average of $1.506. The ICO says revised upward estimates coming from public and private sources monitoring Brazil’s current crop, including the USDA and CONAB, help explain the downward price trend.
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