The International Coffee Organization (ICO) composite indicator decreased by 4.1 per cent to an average of 104.45 US cents per pound in May 2020. This marks the second consecutive month of decrease.
The daily price of the ICO composite indicator reached a high of 107.29 US cents per pound on 11 May, and then declined over the next two weeks reaching a low of 98.68 US cents per pound on 29 May. Expectations of a larger output from Brazil’s 2020/21 crop, the harvesting of which is underway, and ongoing bearish expectations for demand put downward pressure on prices in May.
Read More
