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The monthly report of the International Coffee Organization (ICO) shows that in December, coffee prices have suffered downward revisions, with the monthly average of the ICO composite indicator recorded a fall of 3.7% to 131.31 cents/pound, compared with the level of 188.90 U.S. cents / lb checked at the beginning of the calendar year.

Coffee production in Colombia had a strong increase in December, but the total produced by the country in 2012 was lower than the previous year. The reason was the weather unfavourable for crops and plantation renewal program that was slow to generate results.
Last month, Colombia produced 904,000 60-kilogram bags, up 23% from the 735,000 bags of December 2011, according to data released by the National Federation of Coffee Growers (Fedecafe). In 2012, the Colombian production totalled 7.74 million bags, down 1% from the total harvested a year earlier.