Central America, Asia boost coffee exports as Brazil volumes fall -ICO
Coffee exports from Central America and Asia sharply increased in October and November, the first months of the 2021/22 coffee season, partially offsetting a large decrease in shipments from Brazil, the International Coffee Organization (ICO) said on Monday.
Coffee exports from Central America and Mexico jumped 30% in the period to 940,000 bags, while shipments from Asia & Oceania increased 22% to 6.21 million bags, in a sign that other suppliers are jumping in as No.1 exporter Brazil is unable to keep its volumes.
Brazilian shipments fell 31% in the period to 6.36 million bags, the ICO said in its monthly report, as logistic issues such as reduced container availability and a smaller crop, along with slow farmer selling, reduce the flow of beans from the world’s largest producer.
Guatemala and Honduras were the main drivers behind the coffee flow increase from Central America, while India contributed the most for the increase in shipments out of Asia.
The ICO revised its estimate for the global supply balance for the 2020/21 season ended in September to 2.41 million bags from 1.97 million bags previously as it cut its view for total consumption by 420,000 bags to 167.24 million.
Source: Reuters (Reporting by Marcelo Teixeira; Editing by Sandra Maler)