The world price of coffee grew 11.4% in February compared to the previous month, interrupting the downward trend of around 25% registered last year, the International Coffee Organization (OIC) announced this Saturday.
According to the latest report from this body, cited by the Spanish news agency Efe, the price of coffee has dropped in the last year to 165 cents per pound, a measure equivalent to 453 grams.
A rise of two prices not more than last year in January contrary to the trend registered in 2022, when the best offer was made or the OIC composite index fell more than 25% from February of last year, when it was at around 190 cents per pound, at February of this year.
In the first four months of the harvest, between October and January, coffee exports reached almost 40 million bags, 6% less than in the harvest carried out between October 2021 and January 2022, adds the ICO.
The head of ICO operations, Gerardo Patacconi, quoted by Efe, considered that production in 2002-2023 will reach 171 million bags, compared to 169 million in 2021-2022, and that consumption will rise, this year, from 176 million to 179 million compared to the 2021-2022 season.
These numbers, Patacconi concluded, are being reviewed and will be updated in the new estimates.
Source: TSF
