Excerpts from ICO Monthly Coffee Market Report October 2012 Coffee prices underwent further declines in October, as both Arabicas and Robustas lost value during the month. Over the last six months, the ICO composite indicator price has mostly maintained a range of around 140 – 160 US cents/lb, averaging 147.12 in October, its second ‐ lowest level in over two years. Volatility for all group indicators fell slightly compared to the previous month. Crop year 2012/13 has now started in all exporting countries, and on the basis of the information currently available, total production is estimated at around 147 million bags, compared to 134.5 million bags in 2011/12. The majority of this increase can be attributed to the on ‐ year in the biennial cycle of Arabica production in Brazil. Production in Vietnam during crop year 2011/12 has been revised upwards to just over 24 million bags, 23.6% higher than in 2010/11. Strong production was also recorded in Honduras and Peru, among...