ICO: Coffee Prices Continued to Drop in 2012
Jan 9th 2013 9:14PM
Updated Jan 10th 2013 6:40AM
Prices for raw coffee continued their downward trajectory last year, according to data compiled by the International Coffee Organization. The organization said the average price dropped to $1.56 per pound for the year, or nearly 26% lower than 2011's level.
In December, the average price stood at $1.31 per pound, or almost 4% lower on a month-over-month basis. At the beginning of 2012, the former figure was $1.89.
Looking forward, the ICO said the new harvest from coffee-exporting countries "is beginning to arrive in greater quantities on the market." It said the current crop year has seen increased production in key coffee-exporting locales such as Indonesia and Africa, although Central American producers are experiencing adverse weather.
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