Global coffee traders rush to ship to Europe before year-end

Coffee cargoes are flooding Europe as traders rush to stock up on beans ahead of new environmental rules that are to be implemented at the end of the year. The EU’s Deforestation Regulation (EUDR) require importers into the bloc to prove that commodities such as coffee, beef, cocoa and timber do not contribute to destroying forest land. Coffee is especially vulnerable to the challenges of ensuring every bean is in compliance, so traders have raced to ship as much as they can to Europe before Dec. 30. Exports from Brazil to the bloc surged about 65 percent in the seven months to last month compared with last year, while Ugandan exports saw an all-time high last month, with the bulk headed to the continent. “This crop is effectively the last crop we can export before EUDR comes in,” Ugandan coffee trader Ted Marley said. “The next robusta crop is in October, and given the 70-day vessel time past South Africa and the processing time, almost all coffee from the next crop will have to ...