December 29, 2013
Global coffee exports fell by 9.6% to 8.5 million bags in October, the first month of the new marketing year, as farmers in Indonesia and Vietnam held back stocks, according to the International Coffee Organisation (ICO).
Worldwide coffee shipments stood at 9.38 million bags in the same month last year. One bag contains 60 kg of coffee.
The biggest drop in exports was seen in robustas
With exports from Vietnam and Indonesia slowing considerably as farmers hold back from selling their crop, ICO said in its latest report.
Shipments of the robusta variety fell by over 23% to 2.84 million bags in October from 3.7 million bags a year ago. Among arabicas, shipments of Brazilian Naturals and Other Milds declined in the period, while exports of Colombian Milds rose 42.7%, it added.
According to ICO data, shipments from Vietnam, the worlds second-biggest coffee exporter, fell 39% to 1 million bags in October from 1.63 million bags a year earlier.
Coffee shipments from Indonesia, the third-biggest exporter, declined 33% to 1 million bags from 1.49 million bags.
Overseas sales from Brazil, the largest coffee exporter, rose 6% to 3.09 million bags in October from 2.91 million bags.
Shipments from India improved 28% to 3,74,082 bags from 2,92,808 bags. Coffee harvesting is currently under way in countries such as Brazil, Indonesia and the Philippines. Last year, world coffee production rose 9.8% to 145.24 million bags.
Source: Busines Standard