After two months of increases, the ICO composite indicator fell by 8.9% to 106.89 US cents/lb in January 2020. The daily price of the ICO Composite ranged between 99.78 US cents/lb on 29 January and 115.18 US cents/lb on 2 January. The 2020/21 Brazilian crop, which would be an on-year of its biennial Arabica cycle, and broader macroeconomic uncertainty exerted negative pressure on the market.