Global shipments decline 7.6% in January – ICO
Weaker world shipments reinforce this idea of tightening supply, which helps make up the main variables to coffee prices on the international market. According to the ICO, world shipments totaled 10.29 million 60-kg bags in January 2020. This corresponds to a drop of 7.6% compared to last year, when 11.14 million bags were shipped. The drop in shipments from Brazil justifies this weaker performance.
In the first 4 months of the ICO’s 19/20 crop year, which began in October last year, 39.53 million bags were shipped, down 5.8% from the same period last season (41.95). Besides Brazil (-11.8%), the weaker performance of other milds (-6.6%) explains this comparative decline, which collaborates with the idea of little physical availability, especially of the best cups. This has also served as a support to New York arabica prices.
