Coffee on the rebound
Production of arabica coffee varieties appears to recover in several producing countries like Brazil and Colombia, estimated the International Coffee Organization (ICO) in its monthly report released Thursday.
The official recalled that coffee prices rose sharply in June due to a reduced level of supply of mild Arabica coffees.
Coffee production in Brazil, a major world exporter should reach 50 million bags in the year 2010-2011.
The Colombian also expected to increase this year to reach 10-11 million bags after two successive years of modest crops, details the ICO’s report.
Vietnam, the world’s largest producer of arabica beans, you should register in the same period an estimated production of 16-18 million bags, and Indonesia from 1910 to 1911 million. Finally, Ethiopia and India should produce about five million bags each.
The organization is still waiting for the 2010-2011 season world production of between 133 to 135 million bags (60 kilos).
For the period 2009/2010, the ICO maintains its estimate of world production of 120.6 million bags, against 128.1 million in 2008/2009, representing a fall of 5.8%.
Coffee exports in May totaled eight million bags, bringing the total volume of exports of the first eight months of the 2009/2010 coffee season to 61 million bags, against 66.3 million in 2008/2009, the representing a decrease of 8.1%.