2023-11-20 19:24:17
NEW YORK (Reuters) – Brazilian coffee production for the 2023/24 season was estimated this Monday at 66.3 million 60 kg bags, with a slight reduction in the Robusta/Conilon grain harvest, according to a report from attaché to the US Department of Agriculture (USDA).
According to the USDA’s official forecast, the Brazilian 23/24 harvest was estimated at 66.4 million bags, still an increase of almost 4 million bags in the annual comparison.
The slight change in the estimate comes with a reduction of 300 thousand bags in the production of Robusta/Conilon grains, to 21.4 million bags.
The attaché’s estimate for the Arabica grain harvest is 44.9 million bags, versus 44.7 million in the USDA’s official forecast.
As a result, the attaché predicts a 12.8% increase in the arabica harvest compared to the previous year, due to the increase in planted area and higher yield.
Robusta/conilon production will be 6.1% lower compared to the last harvest.
Brazil’s total coffee exports for 2023/24 (July-June) are estimated at 43.9 million bags (green beans), below the previous estimate of 45.4 million bags, due to a slower trade flow than expected for Arabica coffee at the beginning of the commercial year, with less attractive prices driving away sales.
However, exports in 2023/24 are expected to be 22.3% higher than the volume in 2022/23, according to data from the USDA attaché.
(Reporting by Marcelo Teixeira, with additional reporting by Roberto Samora, in São Paulo; )
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