Safras raises forecast for coffee in Brazil for 2022/23 and sees slow sales in the new cycle

Published 2023년 3월 10일

Tridge summary

Brazil's coffee production in the 2022/23 cycle surpassed expectations, with a total of 58.9 million 60 kg bags, which is 1.6 million tons more than the previous forecast, according to Safras & Mercado. The arabica harvest was estimated at 35.95 million bags, and the canephora (robusta/conilon) harvest at 22.95 million bags. The increase in production has led to a perception of more coffee available on the market, resulting in a slight improvement in the flow of sales. However, the advance sales for the 2023/24 canephora grain harvest are at only 19% of the expected total, a decrease from the same period last year when they were around 28%. Arabica coffee sales are accelerating, with 27% of the crop committed.

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Original content

SAO PAULO (Reuters) - Coffee production in Brazil in the 2022/23 cycle, with the harvest carried out last year, was higher than expected, said consultancy Safras & Mercado, estimating the harvest in the world's largest producer at 58.9 million bags of 60 kg. The new estimate is 1.6 million tons above the previous forecast, Safras said, indicating that it now projects that the arabica harvest totaled 35.95 million bags last year, and that of canephora (robusta/conilon) reached 22.95 million bags. The perception of more coffee available on the market at the moment, due to the adjustment in the flow, led to the upward revision in the harvest number, said the consultant Gil Barabach. He pondered that the flow of sales follows quite cadenced, even with the recent appreciation of prices. "There was even a little more business, but in a very staggered way and without generating great pressure on the supply side. The perception that there was more coffee available resulted in greater ...

Source: NoticiasAgricolas