Coffee Service

ICO coffee price indicator surges to early 2017 level

Image courtesy of iStock.

June 7, 2021

The International Coffee Organization's coffee price composite indicator jumped 10.4% in May, to 134.78 cents per pound, marking the highest level since February 2017, according to a Reuters report.

"A firm upward trend of coffee prices over the first eight months of coffee year 2020/21 seems to confirm a net recovery from the low price levels that began in coffee year 2017/18," the ICO said in a statement.

The prospect for lower production in Brazil, the top growing region, and expected strong demand as nations remove pandemic-related restrictions are the leading price drivers, according to the report.