Indonesia's coffee bean exports may fall to their lowest level in years this year.
In interviews with exporters and processing plants, Bloomberg found that Indonesian coffee bean exports are likely to fall 14 per cent this year to 385000 metric tons (6.42 million bags), the least since 2011, as domestic processing plants expand their purchases. and rainfall could reduce production by 10% to 595000 metric tons (9.92 million bags) this year.
Soemita, director of the Indonesian Coffee Export Business Association, pointed out that after last year's bumper harvest, the output of coffee beans this year will be reduced due to climate factors, and local consumption will also increase day by day, so everyone is snapping up coffee beans.
The decline in Indonesian exports is expected to slow the decline in the price of Robusta coffee beans. Robusta coffee futures have fallen 11.3% from five highs in March, and fell 0.3% to $1843 a tonne in London on the 10th, as supply in Vietnam and Brazil is expected to increase this year.
(responsible Editor:)
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