Coffee Prices Soar to Multi-Decade Highs in April 2024 ICO Report

Coffee Prices Soar to Multi-Decade Highs in April 2024 ICO Report

In April 2024, the International Coffee Organization (ICO) reported a significant surge in the Composite Indicator Price (I-CIP), marking a 13-year high at 216.89 US cents per pound—a 16.4% rise from the previous month. Notably, Robusta coffee prices reached their highest level in 45 years, averaging 193.65 US cents per pound. This price hike reflects a broader trend in the coffee market, influenced by various factors including supply disruptions and increased market volatility. The report also highlighted a notable increase in global green bean exports, rising 9.4% year-over-year in March 2024, with significant contributions from different coffee types and regions. Meanwhile, the London certified stocks of coffee expanded by 27.4%, indicating a shift in inventory levels that could impact future pricing and availability.

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