The same ICO report has estimated that global coffee consumption will have risen for this present October 2018 to September 2019 coffee year to 164.82 million bags, which is well below what they estimate to be the coffee supply for this coffee year. However, they estimate that global coffee consumption is rising by approximately 2.1% per annum and in this respect, would indicate that global coffee consumption for the coming October 2019 to September 2020 coffee year shall exceed 168 million bags.
The National Coffee Institute of Costa Rica have reported that the country’s coffee exports for the month of September were 40% lower than the same month last year, at a total of 24,312 bags. This number has contributed to the cumulative coffee exports for the October 2018 to September 2019 coffee year to be 12.8% lower than the same period in the previous coffee year, at a total of 1.06 million bags.
The December to January contracts arbitrage between the New York and London markets narrowed yesterday; to register this at 40.64 usc/Lb. This equates to 40.40% price discount for the London Robusta coffee market.
The Certified washed Arabica coffee stocks held against the New York exchange were seen to decrease by 4,466 bags yesterday; to register these stocks at 2,267,694 bags. There was an increase to the number of bags pending grade to this exchange, by 3,902 bags; to register these pending grading stocks at 33,186 bags. ..."
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