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Coffee Market Report

February 2024

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Highlights

Since its inception, the ICO has been consistently engaged in assisting its Members with the development, fund mobilization, implementation, monitoring and evaluation of coffee sector development projects aiming to promote sustainable growth for the benefit of all stakeholders, from coffee farmers to consumers.

Expectation and belief in the capacity of young people in coffee-producing countries (CPCs), as well as those engaged in all components of the coffee supply chain, including baristas and consumers, have inspired and motivated the preparation of this CDR. Engaging effectively with and providing tools and resources to the coffee sectors Next Generations is, after all, not an aim but a must.

136th International Coffee Council

Within the World Coffee Conference 2023, the 136th International Coffee Council chaired by Mr. Fabian gathered ICO Members around key topics impacting the sector, including the Coffee Task Force and new partnerships for funding farmers and producing countries, and the circular economy and the compliance with new regulations.

CPPTF: 4th CEOs and Global Leaders Forum

The International Coffee Organization and its Coffee Public-Private Task Force has convened its members and other stakeholders and development partners to attend the 4th CEOs & Global Leaders Forum, powered by IDH – The Sustainable Trade Initiative. The successful outcome of the 4th Forum was the release of a Communiqué expressing the commitment of companies and organizations of the coffee industry, and the ICO Members, to endorse the implementation of the 2020-2030 Roadmap.

What’s New

 

On 14 February 2024, the ICO, European Coffee Federation (ECF), Global Coffee Platform (GCP), and the Sustainable Coffee Challenge co-hosted a webinar on the EUDR Information System. Over 600 attendees had the opportunity to learn more about this key component for compliance with the regulation.

The Coffee Report and Outlook (CRO) is the bi-annual report of the International Coffee Organization, providing an up-to-date snapshot of the 2022/23 coffee year’s production and consumption, and the outlook for 2023/24. It is based on a new methodology for calculating production and consumption, providing a meaningful update to the legacy model.

The ICO Composite Indicator Price (I-CIP) averaged 182.04 US cents/lb in February, a 3.2% increase from January 2023. The I-CIP posted a median value of 181.84 US cents/lb, having fluctuated between 177.48 and 187.07 US cents/lb.

World coffee exports amounted to 12.62 million bags in January 2024, compared with 9.54 million in January 2023. Exports in the first 4 months of coffee year 2023/24 (October/23 to January/24) increased by 13.1% to 45.13 million bags compared to 39.89 million bags in the same period in 2022/23. In the twelve months ending January 2024, exports of Arabica totalled 76.59 million bags compared to 79.14 million bags last year; whereas Robusta exports amounted to 51.56 million bags compared to 48.19 million bags

The 5th World Coffee Conference in Bengaluru, India

The ICO and its partners are co-hosting the 5th World Coffee Conference to discuss critical issues affecting the global coffee industry. With 80 member countries and over 900 participants, including coffee growers and government representatives, the conference will serve as a platform for a diverse range of high-level discussions, including the Coffee Public-Private Task Force CEO and Global Leaders Forum.

ICO celebrates its 60th anniversary at the WCC 2023

As we look to the future and celebrate the ICO’s 60th anniversary at the 5th World Coffee Conference, the ICO calls on the sector to focus on the priorities that will shape the future of coffee, and to commit to uniting the global coffee community to advance and address some of the most pressing economic, social and environmental challenges of our time.

Launch of the new ‘Center for Circular Economy in Coffee’

During the World Coffee Conference promoted by the International Coffee Organization and jointly organized with the Government of India and its Coffee Board in Bangalore, was announced the launch of the new Center for Circular Economy in Coffee.

Get Connected

The ICO’s mission is to strengthen the global coffee sector and promote its sustainable expansion in a market-based environement for the betterment of all actors in the coffee sector.

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Events

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International Coffee Day (ICD)

On 1 October, we celebrate the International Coffee Day, an opportunity for coffee lovers to share their love of the beverage and support the millions of farmers whose livelihoods depend on the aromatic crop.

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Coffee Sector Events

Discover the latest events organised by the coffee sector and follow ICO and the Coffee Public-Private Task Force next high level events and international meetings.

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