The ICO composite indicator price averaged 117.26 US cents/lb in November 2017, down 2.3 per cent from October 2017, mainly as a result of falling prices for Robusta.
Nearly all of the decline occurred in prices for Robusta, which fell by 7.2 per cent to an average of 91.33 US cents/lb in November 2017.
Exports in October 2017 were 11.4 per cent lower than the same month last year at 8.8 million bags. Shipments of Arabica were 9.9 per cent lower at 5.7 million bags.
Production in some countries in Central America and Mexico has partially recovered from the outbreak of leaf rust a few years ago.
In crop year 2016/17, Honduras and Nicaragua surpassed the volume of output achieved before the outbreak. However, output from Guatemala and El Salvador has recovered from the low volumes in crop years 2012/13 and 2013/14, but remains below the average volume of production from before the outbreak.
The ICO composite indicator price continued to decline in November 2017, though nearly all of the decrease occurred in prices for Robusta. The indicator price averaged 117.26 US cents/lb, down 2.3 per cent from the average price in October.
Compared to the average price in November since 2010, the average ICO composite indicator price in November 2017 was lower only in November 2015 (115.03 US cents/lb) and November 2013 (100.99 US cents/lb).
Arabica group indicators were generally stable in November. The difference in the average price for all three Arabica groups in November 2017 compared to October amounted to less than half a per cent.