The quantity of coffee produced may well fail short of demand in each of the next few years. Rising prices of green coffee, as measured by ICO Indicators, already reflect anticipated shortfalls. The average value of the ICO Composite Indicator for themonth of June of this year was 96.29 cents per pound, slightly less than the average of 101.44 cents per pound in March. The March value was the highest since June of 1998 and it was nearly one and a half times the recent-years1 low point of 41.17 cents per pound recorded for September 2001. Prices have been trending upward since the end of 2003. after averaging just over 48 cents per pound during the previous three years - extremely lean years for the producers.
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