The world will have a shortage of 3.1 million bags of coffee in the crop year 2021-2022

Published 2022년 3월 16일

Tridge summary

The International Coffee Organization (ICO) has forecast a decrease in global coffee production for the 2021-2022 crop year, with a projected drop of 2.1% to 167.2 million bags, primarily due to a reduction in arabica production. Despite this, global coffee consumption is expected to increase by 3.3% to 170.3 million bags. The report also highlights a deficit in the world coffee market, with a surplus of 3.1 million bags due to a significant adjustment in Venezuelan consumption. Brazil remains the world's leading coffee exporter, but there has been a sharp decline in its coffee exports. Meanwhile, Vietnam's coffee exports have seen a notable increase of 17.5%.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In a recent report, the ICO made its first assessment of the world's coffee supply and demand prospects in the 2021-2022 crop year. Accordingly, the global coffee production in the 2021-2022 crop year was forecasted by the ICO. forecast will be at 167.2 million bags, down 2.1% from 170.8 million bags in MY 2020-2021. One of the main factors driving this decline is the expected decrease in arabica production by 7 .1%, down to nearly 94 million bags; while robusta production is expected to increase by 5.1% to 73.2 million bags. In terms of production area, coffee production in Asia and Oceania is estimated to increase by 7.1%, from 48 million bags to 51.4 million bags in the 2021-2022 crop year. South American production, however, is expected to drop 7.6% to 77.5 million bags from 83.8 million bags in the previous crop year. In addition, production in Central America and Mexico is also forecast to decrease by 3.5%, from 19.7 million bags to 19 million bags. Africa's production is ...

Source: Vietnambiz