Africa exports more coffee

Coffee from Africa exported to America, Europe and other parts of the world rose by 6.5 per cent to 1.02 million bags in January, 2024.

It increased from 0.96 million bags in January 2023.

This was contained in the yearly report of the International Coffee Organisation (ICO).

The report indicated that the size of the rebound is a reflection of a favourable base effect and a comparative normalisation of market circumstances.

The report further disclosed that contract disputes arising from a mismatch between local purchasing prices and global market prices had affected the volume of exports.

Coffee production globally increased by 0.1 per cent to 168.2 million bags in 2022/23.

The stagnant growth rate is influenced by the tremendous changes at the regional level, with the coffee world neatly split between the expanding Americas and the shrinking rest of the world.

Total exports of soluble coffee increased by 2.7 per cent in January this year to 1.01 million bags from 0.98 million bags in January last year . In the first four months of the coffee year 2023/24, according to it ,a total of 4.03 million bags of soluble coffee were exported, representing an increase of 6.8 per cent from the 3.77 million bags exported in the same period during the previous coffee year.

Soluble coffee’s share in the total exports of all forms of coffee for the year to date was eight per cent in January, down from 10.3 per cent in the same period a year ago. Brazil, it noted, was the largest exporter of soluble coffee, having shipped 0.31 million bags in January this year.

Exports of roasted beans were up 7.6 per cent in January to 59,851 bags, as compared with.

55,606 bags in January last year. The cumulative total for coffee year 2023/24 to January this year, it noted, was 0.23 million bags, as compared with 0.25 million bags in the same period a year ago.

BEB