The average arbitrage in January, as measured on the New York and London futures markets, rose by 8.1% to 67.05 US cents/lb. Stocks of certified Arabica increased by 15.1% to 1.75 million bags in January 2021, which is the fourth consecutive month of increase. Certified Robusta stocks amounted to 2.4 million bags, 3.9% higher than in December 2020.  

The volatility of the ICO composite indicator price decreased by 1.4 percentage points to 7% as the volatility for all Arabica indicators decreased, while the volatility for Robusta prices was 7.7%, 1.6 percentage points higher than in December 2020. The volatility for Colombian Milds fell by 1.9 percentage points to 6.7%, for Other Milds by 2.1 percentage points to 7.1%. and for Brazilian Naturals by 2.9 percentage points to 9.3% in January 2021.