The International Coffee Organization (ICO) has released its June 2024 market report, revealing a significant increase in the Composite Indicator Price (I-CIP) to an average of 226.83 US cents per pound, marking an 8.9% rise from May 2024. The price fluctuated between 221.71 and 235.69 US cents per pound, highlighting market volatility. Certified stocks in London and for Arabica coffee saw notable increases, with London stocks up by 24.3% and Arabica by 2.8% compared to May 2024. The Colombian Milds and Other Milds also experienced price hikes, reaching 250.39 and 248.39 US cents per pound respectively. Global green bean exports in May 2024 rose by 12.0% year-over-year to 10.76 million bags, driven primarily by a 56.1% increase in Brazilian Naturals exports. However, Robusta exports fell by 13.4%. Regional export trends varied, with South America and Africa seeing substantial increases, while Asia & Oceania experienced a 39.3% decline. Soluble coffee exports also dropped by 11.3%, reducing its share in overall coffee exports.
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