USDA forecasts world coffee production for 2023/24 to be up by 2.5% at 174.3 million bags, with exports seen at 122.2 million

Published 2023년 6월 23일

Tridge summary

The USDA's Foreign Agricultural Service has released its World Markets and Trade report, predicting a 2.5% increase in global coffee production for 2023/24, totaling 174.3 million bags, largely due to higher output in Brazil and Vietnam. Despite this, ending inventories are expected to remain tight at 31.8 million bags, with global exports projected to reach a record 122.2 million. The report also notes production challenges in Indonesia and Philippines, and potential yields boost in Brazil due to heavy rains. It also anticipates a decline in Robusta harvest in Vietnam and Ethiopia's stagnant Arabica yields, while India's production is predicted to decline due to a dry spell. The EU and US are forecast to increase their coffee imports.

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

Original content

WASHINGTON D.C., USA – The United States Department of Agriculture‘s Foreign Agricultural Service released on Thursday the World Markets and Trade report including data on U.S. and global trade, production, consumption and stocks, as well as analysis of developments affecting world trade in coffee. World coffee production for 2023/24 is forecast 4.3 million bags (60 kilograms) higher (+2.5%) than the previous year to 174.3 million. Higher output in Brazil and Vietnam is expected to more than offset reduced production in Indonesia. With additional supplies, global exports are expected up 5.8 million bags to a record 122.2 million primarily on strong shipments from Brazil. With global consumption forecast at a record 170.2 million bags, ending inventories are expected to remain tight at 31.8 million bags. Brazil combined Arabica and Robusta harvest is forecast up 3.8 million bags to 66.4 million in 2023/24. Arabica output is forecast to improve 4.9 million bags to 44.7 million. In ...

Source: Comunicaffe