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ICO JANUARY REPORT: ARABICA KEEPS RISING, ROBUSTA FALLS
The ICO composite indicator continued to climb in January 2021 for Arabica, while Robusta has slighlty decreased
ArtOn Café is proud to publish a monthly abstract of the ICO reports. On our website we have added the graphs of the London and the New York stock exchanges. The former concerns Robusta coffee, while the latter refers to Arabica coffee. We have also added an interesting banner that presents the EUR to USD exchange rate. Please visit our website to access all these details.
The following is an abstract of the ICO Market Report of January 2021
The ICO composite indicator continued to climb in January 2021, averaging 115.73 US cents/lb, 0.9% higher than last month. Prices for all Arabica indicators rose in January, while Robusta prices decreased by 1.8% to 70.71 US cents/lb. Exports in the first three months of coffee year 2020/21 were 31.59 million bags, 6.1% higher than in October to December 2019. In coffee year 2020/21, global production is estimated to rise by 1.9% to 171.9 million bags with Arabica production growing by 5.2% to 101.88 million bags. World coffee consumption is projected to increase by 1.3% to 166.63 million bags in 2020/21 as social distancing measures remain in place, limiting out-of-home consumption, and the global economy slowly recovers. While demand is expected to recover, the expected increase in global production could lead to a projected surplus of 5.27 million bags at the end of coffee year 2020/21. While current projections would negatively impact prices this year, the covid-19 pandemic remains an unprecedented and swiftly evolving situation.
Source: ICO Monthly Coffee Market Report
Sources
Coffee Market Report January 2021
GULFOOD 2021
Let’s boost 2021 with a trade show in the Food & Beverage sector aiming at the safe return of organised events
The first live event of the year in the Food & Beverage sector
GulFood (21st-25th of February) offers the opportunity to re-connect with the world’s food and business community. With 85 country pavilions presenting a wide array of products, GulFood is a great opportunity for food professionals, who will have the chance to network with chefs, to explore new markets, to increase their profits and to discuss the future of the Food & Beverage industry. In fact, global heads and Michelin-starred chefs and over 5000 suppliers from 198 countries around the world will take part in the event. In this way, GulFood is the perfect platform to showcase and promote new products and services, estimate and assess the market trends, connect with other professionals, and so re-launch the Food & Beverage sector, which was extremely challenged by the pandemic.
Dubai, the perfect location
GulFood takes place in Dubai, which is in a strategic location. The United Arab Emirates, in fact, are located at the eastern end of the Arabian Peninsula and therefore are accessible to major economies and linked to shipping routes. Dubai, being the capital of one of the Emirates, is located between the East and the West and represents a hub in the trading sector, facilitating the transportation of goods between various regions in the Middle East, Asia, Europe and Africa.
Safety, the keyword for re-launching organised events
The GulFood trade show will strictly adhere to the safety and hygiene guidelines in order to let the participants enjoy the event in a serene and healthy environment. Dubai World Trade Centre not only adheres to all rules and regulations laid out by government authorities, including Dubai health authority and Dubay municipality, but also adheres to other safety standards, such as its own “Venue Safe” standards. Moreover, it is certified by the Bureau Veritas SafeGuard Label, attesting to the highest hygiene standards. For everyone’s safety, during the event compliance will be legally required in all areas of the trade show. Make sure to check the measures that are in place.
Italian companies at GulFood
More than 100 famous and successful Italian companies operating in the Food & Beverage sector will take part in the GulFood trade show in Dubai in February 2021, exhibiting their products and services in a stand or being represented by their managers. Make sure to check the 2021 exhibitors list. Due to the ongoing crisis caused by Covid-19, the situation is being constantly monitored in terms of flight connections. For safety and health reasons, in fact, several flights to Dubai may be cancelled and this irregularity of transportation services might affect the arrival in Dubai of visitors, exhibitors and other guests of the event.
We at ArtOn Café would like to thank Ms. Evgenia Chevychelova, Export Manager at Maribel, who has kindly sent us some useful and interesting details concerning such a unique event.
Are you ready to take part in this extraordinary trade show, which will not only be a great opportunity to re-connect with the Food & Beverage sector but also to re-launch safe organised events?
Sources
GulFood website (accessed on 08th of February 2021)
Cup of Excellence Updates: 2021
CoE keeps supporting farmers during such a challenging time
A demanding year
The coffee sector – just like any other sector – has been challenged by the outbreak of the pandemic in 2020. During this unprecedented situation, the Cup of Excellence (CoE) has played a crucial role, raising over $4.5 million USD for farmers (Cup of Excellence, 2021). The 2020 auction results were exceptional, with more than three thousand participating farmers (Alliance for Coffee Excellence, n.d.). Now a new year has started and, hoping that the global situation will improve soon, the CoE keeps supporting the coffee industry.
The protocol adopted in such a challenging time
The pandemic is forcing the world to find new solutions. In such a challenging and unprecedented time, the Cup of Excellence keeps promoting the mission of discovering and rewarding coffee farmers thanks to the auctions. While waiting to get back to normality, the CoE is working with modified competition protocols aiming at keeping safe all actors involved (Cup of Excellence, 2021), by working on contingency plans in order to examine all entries (Darrin, 2020). Due to the ongoing crisis, the coffees for the international phase will be sent to global coffee centres around the world, as the jury week will not take place in-country for 8 of the countries. As far as Brazil, Ecuador, Indonesia and Peru are concerned, the situation is being constantly monitored to see if and how international judges can be received in-country. Moreover, a new cupping method has been introduced. It is called Individual Set Cupping and it eliminates the risk of cross contamination while allowing the judges to cup and score in the way they are used to (Cup of Excellence, 2021).
Upcoming auctions and the Tanzania Ngorongoro Private Collection Auction
While waiting for the upcoming auctions – the first one will be Colombia, May 20th (Alliance for Coffee Excellence, 2021b) – other initiatives are taking place. On February 2nd, 2021, The Alliance for Coffee Excellence, in partnership with Portland Global Initiatives and the Ngorongoro Coffee Group, were glad to host the 2021 Tanzania Ngorongoro Private Collection Auction (Alliance for Coffee Excellence, 2021a). This auction has involved 6 producers who provided almost 40 lots from the Ngorongoro region. Make sure to check the auction results!
Bibliography
Alliance for Coffee Excellence. (n.d.). CoE Auction Results. Retrieved February 3, 2021, from CoE Auction Results website: https://allianceforcoffeeexcellence.org/competition-auction-results/
Alliance for Coffee Excellence. (2021a). Private Collection Auction With Ngorongoro Coffee Group. Tanzanian Specialty Coffee. Retrieved February 3, 2021, from Auctions website: https://allianceforcoffeeexcellence.org/2021-tanzania-ngorongoro-pca/
Alliance for Coffee Excellence. (2021b). Upcoming Auctions. Retrieved February 2, 2021, from Auctions website: https://allianceforcoffeeexcellence.org/upcoming-auctions/?utm_source=Newsletter+list&utm_campaign=4dedf0f5e5-&utm_medium=email&utm_term=0_129fab4bcc-4dedf0f5e5-160690206
Cup of Excellence. (2021). Global Coffee Centers (GCCs). Retrieved February 3, 2021, from Cup of Excellence. About website: https://cupofexcellence.org/global-coffee-centers/
Darrin, D. (2020). Statement from our Executive Director. Retrieved February 3, 2021, from Covid-19 Updates. Alliance for Coffee Excellence website: https://allianceforcoffeeexcellence.org/blog/2020/03/12/statement-from-our-executive-director/