Brazil's coffee exports soar in the new season global coffee exports increased by 3.7% compared with the same period last year.
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Global coffee exports of 10.21 million bags (60 kg / bag) in January 2021 fell by about 3.6 per cent compared with 10.59 million bags in the same period, the International Coffee Organization (ICO) said on February 24th. But the total export volume in the first four months of the 21st quarter (October to September of each year) was 4188 bags, an increase of 3.7 per cent compared with 4038 bags in the same period.
Coffee International said coffee exports in the first four months of the 2020 / 21 quarter totaled 41.9 million bags, up from an original estimate of 40.9 million bags, mainly due to a 21.9 per cent surge in coffee shipments from Brazil, the largest coffee producer, to 16.06 million bags. Brazilian coffee produced by large-scale mechanization has increased its market share due to a decline in coffee exports from other regions.
According to statistics, coffee exports from Africa fell by 13% to 3.81 million bags in the first four months of the 21st quarter, with Uganda still the largest exporter in Africa, with an increase of 28.06% to 420000 bags. Asian coffee exports fell by 3.9% to 12.19 million bags, of which Vietnamese coffee exports decreased by 10.4% to 7.88 million bags, while Indonesian coffee exports increased by 24.2% to 2.47 million bags. As Central America was hit by hurricanes ETA and LOTA, coffee exports fell by 17.5% to 1.31 million bags, including 40% to 74000 bags from Honduras, 40% to 450000 bags from Nicaragua and 22.8% to 798000 bags from Ecuador.
In the coffee export data for the first four months of 2020 Coffee in the 21st quarter, Coffee International said that due to the abundance of Brazilian coffee production in 2020 Coffee in the 21st quarter, some traders would take the opportunity to expand their warehouses. So this time, more of the export data are in the coffee warehouses of the consuming countries, and the proportion of direct consumption is relatively small.
ICO's view of the balance between global coffee supply and demand in the 2020 / 21 quarter remains the same as the previous report, with a projected coffee surplus of 5.27 million bags for the current quarter. But in a recent Reuters poll, market analysts predicted a huge surplus of 8 million bags of coffee in the 2020 / 21 quarter.
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