The International Coffee Organization says international coffee prices have been on a downward trend for the last two years and have fallen to levels not seen since November 2013.
The ICO said coffee prices averaged 102.41 US cents/lb in August 2018, a 20.1 per cent drop compared to August 2017.
The last time the monthly composite indicator price was lower than 102.41 US cents/lb was in November 2013, when it recorded 100.99 US cents/lb.
This decline is linked primarily to market fundamentals, though other factors, such as exchange rate movements and futures markets, are also playing a role.
Total exports in July 2018 amounted to 10.11 million bags in July 2018, compared with 9.66 million in July 2017.
Exports in the first 10 months of coffee year 2017/18 (Oct/17 to Jul/18) increased by 0.9 per cent to 101.2 million bags, compared to 100.34 million bags in the same period in the last coffee year.
Coffee prices continued their downward trend as the monthly average of the ICO composite indicator fell 4.5 per cent lower than in July 2018 and 20.1 per cent lower than in August 2017.
This represents the lowest monthly average composite indicator since November 2013, when it reached 100.99 US cents/lb and the lowest monthly average for August since 2006, when the monthly indicator price was 95.78 US cents/lb.