ICO国际咖啡组织：2025年11月咖啡市场报告（英文版）

The ICO Composite Indicator Price (I-CIP) averaged 330.44 US cents/lb in November 2025, up 1.2% from October, remaining range-bound between 320.39 and 343.92 US cents/lb. Two key events shaped market dynamics: US tariff relief on Brazilian coffee imports, a bearish factor, and severe flooding in Vietnam’s Central Highlands, a bullish factor. These largely offset each other, resulting in a relatively listless I-CIP movement. The modest increase in the I-CIP was driven by higher prices across a