The international coffee organization ico released a November report that global coffee exports are slowly recovering.
According to a report released by the international coffee organization ico, 2022 Coffee 23 the annual world coffee production increased by 0.1% to 1.682 billion bags. Stagnant growth masks dramatic changes at the regional level, while coffee-producing countries are neatly divided into expanding America on one side and shrinking other regions on the other.
Production in Asia, Oceania and Africa fell 4.7 per cent and 7.2 per cent to 49.84 million and 17.9 million bags respectively, mainly due to the different effects of adverse weather conditions on coffee-producing countries, with Viet Nam and C ô te d'Ivoire and Uganda being the most affected. South America has benefited from an 8.4% increase in Brazilian production over the past two years, resulting in a 4.8% increase in South America.
General situation of World Coffee Market
There are 100.5 million bags of coffee beans in the Americas, of which Arabica production increased 1.8 per cent to 94 million bags, while Robusta fell 2 per cent to 74.2 million bags. Annual coffee production is expected to increase by 5.8 to 178 million bags, Arabica coffee beans are expected to increase by 102.2 million bags, and Robusta is expected to increase to 75.8 million bags.
As the effects of the frost in Brazil were resolved in 2021, it had a positive impact on production in the Americas, but La Nina and El Ni ñ o, which were discovered in 2022 and continued until 2023, will have a negative impact on the annual coffee production prospects of 2023. For example, Vietnam is about to be affected by dry and hot weather.
The world coffee industry is gradually solving the follow-up impact of the COVID-19 epidemic in 2019, and the consumption trend should follow the established pattern to cope with external shocks. The annual forecast for coffee 2022 + 23 is less positive, but world coffee consumption actually fell by 2% to 173.1 million bags.
General situation of World Coffee production
Owing to the high cost of living, declining disposable income and chronic decline in stocks, coffee consumption in 2022 / 23 did not follow the established pattern, although coffee was relatively inflexible, the challenging global economic environment had a negative impact on its consumption. And inventories have decreased significantly, with a total reduction of 4.8 million bags in EU and ICE USA warehouses, from 14.5 million to 9.8 million bags, which will be further reduced in the future as a result of EU deforestation regulations. So the world coffee market is expected to have a surplus of 1 million bags in 2023 / 24.
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