IBGE estimates Brazil's coffee harvest above 60 million bags

Published Jun 14, 2024

Tridge summary

The Brazilian Institute of Geography and Statistics (IBGE) has reported a 1.9% increase in Brazil's coffee production to 61.4 million 60 kg bags, a 7.7% increase from the total for 2023. This estimate is higher than the National Supply Company's (Conab) forecast of 58.8 million bags and market estimates of around 67 million bags. The production is expected to increase for both Arabica and canephora grains. Despite some reports of small grains harvested earlier, the IBGE remains optimistic about the production prospects for Arabica coffee, projecting an increase of 2.4% compared to the previous forecast.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

SÃO PAULO (Reuters) - Brazil's coffee production was estimated this Thursday at 61.4 million 60 kg bags, an increase of 1.9% compared to the previous month's projection, according to an assessment by the Brazilian Institute of Geography and Statistics (IBGE). The estimate for the crop being harvested indicates an increase of 7.7% in relation to the total for 2023, considering the production of Arabica and canephora grains (conilon and Robusta). The forecast for the largest global producer and exporter was high despite market agents reporting a harvest of small grains in Brazil, at the beginning of work, which already reaches 20% of the expected production in some Arabica areas. The IBGE projection is above the estimate of the National Supply Company (Conab), which in May raised the forecast to 58.8 million bags. Market estimates point to even higher numbers, around 67 million bags, while the US Department of Agriculture (USDA) projects 69.9 million bags. For Arabica coffee, ...
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