Steady recovery
In September 2021, the ICO composite indicator of coffee prices rose by 6.2% to 170.02 US cents /IB. compared to 160.14US cents/Ib. of August 2021. This marks the highest average price recorded since February 2012 and represents a 60.6 percent increase as compared to the 105.85 US per pound recorded at the beginning of the coffee year in October 2020. Prices for all group indicators increased in September 2021 and reached their highest levels in several years.
The global coffee market 2021-2025 is poised to grow by 1.4 mm MT during 2021-2025, progressing at a CAGR of 2. 75% during the forecast period.
Reports claim farmers have defaulted on up to 1 million bags. Farmers are claiming they will export the defaulted coffee later in the year, but traders, roasters, and retailers will be exposed to monetary losses.
The 2021 Code offers a common language and framework for baseline sustainability in coffee production, designed to allow farmers, producer groups, NGOs, government entities, financial institutions, and others in the coffee chain to collaboratively advance their sustainability efforts.
Managing Director of the Ugandan Coffee Development Authority Dr. Emmanuel Lyamuleme Niyibigira issued a letter stating the authority will not extend the agreement past 1 February 2022. The reasons for leaving remain unknown.
Coffee analysts and traders said on Friday during the annual conference organized by the Swiss Coffee Trade Association (SCTA) that transportation problems are preventing available supplies from moving quickly to meet demand in some areas of the world, boosting prices for the commodity.
