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Import coffee prices declined 2.6 percent for year ended May 2023, following large increases

June 23, 2023

Prices for U.S. imports of coffee fell 2.6 percent from May 2022 to May 2023. The decline followed a series of increases since the spring of 2021. Prices for U.S. imports of coffee were 57 percent higher in May 2023 than in February 2021.

U.S. import price index and 12-month percent change in U.S. import prices for green coffee, 2013 to 2023
Month Index 12-month percent change

Jan 2013

100.0 -26.0

Feb 2013

104.5 -20.4

Mar 2013

105.8 -12.4

Apr 2013

100.2 -18.0

May 2013

100.3 -16.4

Jun 2013

97.9 -16.4

Jul 2013

95.1 -21.0

Aug 2013

94.3 -20.8

Sep 2013

92.4 -15.4

Oct 2013

90.7 -20.7

Nov 2013

88.2 -9.8

Dec 2013

92.6 -4.9

Jan 2014

88.6 -11.4

Feb 2014

97.7 -6.5

Mar 2014

107.6 1.6

Apr 2014

97.5 -2.7

May 2014

106.1 5.8

Jun 2014

97.3 -0.6

Jul 2014

103.4 8.7

Aug 2014

105.2 11.5

Sep 2014

105.6 14.3

Oct 2014

111.1 22.5

Nov 2014

105.9 20.0

Dec 2014

106.3 14.7

Jan 2015

109.0 23.0

Feb 2015

104.5 7.0

Mar 2015

96.9 -9.9

Apr 2015

96.1 -1.4

May 2015

94.3 -11.2

Jun 2015

94.1 -3.3

Jul 2015

87.8 -15.0

Aug 2015

88.4 -15.9

Sep 2015

85.8 -18.7

Oct 2015

84.9 -23.6

Nov 2015

84.0 -20.7

Dec 2015

84.9 -20.1

Jan 2016

81.5 -25.3

Feb 2016

81.9 -21.7

Mar 2016

82.2 -15.1

Apr 2016

83.4 -13.2

May 2016

84.3 -10.6

Jun 2016

85.0 -9.7

Jul 2016

88.5 0.8

Aug 2016

88.7 0.3

Sep 2016

90.0 4.8

Oct 2016

89.4 5.3

Nov 2016

96.3 14.6

Dec 2016

90.9 7.1

Jan 2017

93.3 14.4

Feb 2017

92.4 12.8

Mar 2017

91.1 10.8

Apr 2017

90.4 8.3

May 2017

89.5 6.2

Jun 2017

86.8 2.1

Jul 2017

90.4 2.2

Aug 2017

91.4 3.0

Sep 2017

89.0 -1.1

Oct 2017

87.0 -2.7

Nov 2017

85.8 -10.9

Dec 2017

83.3 -8.4

Jan 2018

84.2 -9.7

Feb 2018

83.4 -9.7

Mar 2018

83.6 -8.3

Apr 2018

83.3 -7.8

May 2018

84.2 -5.9

Jun 2018

84.7 -2.5

Jul 2018

83.5 -7.7

Aug 2018

82.0 -10.2

Sep 2018

77.8 -12.5

Oct 2018

79.6 -8.5

Nov 2018

82.5 -3.8

Dec 2018

82.8 -0.6

Jan 2019

81.0 -3.8

Feb 2019

78.5 -5.9

Mar 2019

77.7 -7.0

Apr 2019

77.5 -6.9

May 2019

74.5 -11.5

Jun 2019

76.0 -10.2

Jul 2019

76.3 -8.6

Aug 2019

72.4 -11.7

Sep 2019

78.1 0.4

Oct 2019

76.3 -4.2

Nov 2019

79.3 -3.9

Dec 2019

81.9 -1.1

Jan 2020

80.3 -0.8

Feb 2020

82.1 4.6

Mar 2020

81.8 5.2

Apr 2020

80.2 3.6

May 2020

81.8 9.7

Jun 2020

77.2 1.5

Jul 2020

82.0 7.4

Aug 2020

82.7 14.3

Sep 2020

84.5 8.2

Oct 2020

79.9 4.8

Nov 2020

80.5 1.5

Dec 2020

83.6 2.1

Jan 2021

83.3 3.8

Feb 2021

83.1 1.2

Mar 2021

87.3 6.8

Apr 2021

83.9 4.5

May 2021

92.0 12.5

Jun 2021

96.8 25.3

Jul 2021

96.6 17.9

Aug 2021

104.0 25.7

Sep 2021

108.7 28.6

Oct 2021

110.3 38.0

Nov 2021

120.5 49.8

Dec 2021

125.0 49.5

Jan 2022

127.3 52.8

Feb 2022

131.8 58.7

Mar 2022

131.2 50.2

Apr 2022

136.8 63.1

May 2022

133.4 45.0

Jun 2022

136.3 40.8

Jul 2022

133.6 38.2

Aug 2022

135.7 30.4

Sep 2022

137.6 26.6

Oct 2022

134.7 22.2

Nov 2022

121.3 0.7

Dec 2022

119.0 -4.8

Jan 2023

128.8 1.2

Feb 2023

130.7 -0.8

Mar 2023

130.5 -0.5

Apr 2023

127.7 -6.6

May 2023

130.0 -2.6

Unfavorable growing conditions and logistical challenges curbed coffee output from top U.S. suppliers in 2021. Erratic weather in Brazil hindered production throughout the year. Shipments of coffee from other major producers like Colombia, Vietnam, and Indonesia were affected by labor shortages and the scarcity of shipping containers during the COVID-19 pandemic. These factors resulted in supply shortfalls and upward price pressure for coffee. The resulting elevated prices persisted through September 2022 before declining as production increased in 2023.

These data are from the International Price program. To learn more, see “U.S. Import and Export Price Indexes — May 2023." We also have more charts on U.S. import and export prices. Import and export price changes may be revised in each of the 3 months after original publication. Green coffee is coffee seeds that have been processed so there is no pulp from the fruit, but the beans have not yet been roasted.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Import coffee prices declined 2.6 percent for year ended May 2023, following large increases at https://www.bls.gov/opub/ted/2023/import-coffee-prices-declined-2-6-percent-for-year-ended-may-2023-following-large-increases.htm (visited May 27, 2024).

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