The ICO composite indicator averaged 96.07 US cents/lb in August 2019, dropping 6.7% from July 2019. Since the high of 111.21 US cents/lb in October 2018 at the start of the coffee year, the monthly ICO composite indicator has fallen by 13.6%. In August, the daily composite indicator ranged between a low of 94.29 US cents/lb on 19 August and a high of 97.43 US cents/lb on 8 August. Oversupply continues to burden the market, putting downward pressure on prices.