1、Coffee Market Report July 2023 1 Led by the Arabicas,I-CIP makes late gains to limit losses.The ICO Composite Indicator Price lost 7.2%from June to July 2023,averaging 171.25 US cents/lb for the latter,whilst posting a median value of 158.4 US cents/lb.Average prices for all group indicators fell in

2、 July 2023,with the Colombian Milds suffering the heaviest loss,decreasing by 10.0%and averaging 190.58 US cents/lb.The Robustas were subject to the lightest downturn,falling 3.4%,and averaging 127.58 US cents/lb in July 2023.The Colombian Milds-Other Milds differential contracted by 165.2%to 2.91 U

3、S cents/lb.Arbitrage,as measured between the London and New York Futures markets,contracted by 16.9%to 45.95 US cents/lb in July 2023 as the Robusta growth rate outstripped the New York Market.Intra-day volatility of the I-CIP followed a consistent downtrend,reaching 7.8%,a 0.3 percentage point decr

4、ease between June and July 2023.The New York and London certified stocks decreased in tandem by 2.9%and 29.4%,respectively,closing in at 0.58 million 60-kg bags,whilst certified stocks of Robusta coffee reached 0.89 million 60-kg bags.Global green bean exports in June 2023 totalled 9.39 million bags

5、,as compared with 10.06 million bags in the same month of the previous year,down 6.7%.Exports of the Other Milds fell by 19.3%in June to 2.32 million bags from 2.88 million bags in June 2022.Green bean exports of the Brazilian Naturals fell in June 2023,decreasing by 7.6%to 2.5 million bags.Exports

6、of the Colombian Milds decreased by 13.0%to 0.84 million bags in June 2023 from 0.97 million bags in June 2022.Green bean exports of the Robustas amounted to 3.72 million bags in June 2023,as compared with 3.51 million bags in June 2022,up 6.1%.As a result,the Robustas share of the total green beans