Coffee stocks in Europe rise as imports rise

A recent report by the European Coffee Federation (ECF) revealed an increase in coffee stocks in the European Union (EU), which reached 8.85 million bags in August, after historically low levels in early 2024. This growth was driven by the increase in imports of washed robusta and arabica beans, mainly from exporting countries such as Brazil, Central America and East Africa, as detailed by Laleska Moda, coffee analyst at Hedgepoint Global Markets. Despite the increase in imports, European stocks are still below historical averages and levels recorded in 2022/2023. Laleska explains that demand for coffee in the EU remains high, which limits the recovery of stocks and keeps consumption high. With the implementation of the EU’s Zero Deforestation Regulation (EUDR), there has been a significant increase in demand for Brazilian coffee, especially in the second and third quarters of 2024. This trend is expected to continue until the end of the year, driven by demand for robusta, despite ...