ICO forecasts sustained strong coffee prices

By staff reporter

15/01/2007 - The recovery in coffee prices recorded in November 2006 became more pronounced in December, according to ICO executive director Nester Osorio.

The monthly average of the ICO (International Coffee Organisation) composite indicator price reached a level of 108.01 US cents/lb, the highest since June 1998.

"The increase was significant in the case of Arabicas; the New York futures market (NYBOT), which is sensitive to the situation of Arabica supplies, recorded its highest price level in the last 20 months," explained Osorio.

"This firm price trend continued in the first week of January 2007."

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