Coffee

USDA PUBLISHED THE NEWEST REPORT- COFFEE: WORLD MARKETS AND TRADE

The United States Department of Agriculture (USDA) has published the newest report titled ‘Coffee: World Markets and Trade.’ The report includes a forecast overview of the 2020/2021 coffee trade.

Among other data such as the US and global trade, production, consumption, and stocks, the report gives an analysis of developments influencing world trade in coffee. The impact of COVID-19 has been taken into consideration for the preparation of the report.

The report predicts world coffee production for 2020/21 to be by 9.1 million 60-kilogram bags higher than the previous year, to a record 176.1 million. According to the International Coffee Organization (ICO), coffee prices receded in the last few months to an average US$1.04 per pound in May 2020.

Brazil is projected to account for most of the profit as its Arabica crop starts the on-year of the biennial production cycle, and Robusta reaches record output. World exports are forecast higher, mainly on the strength of Brazil. Global ending stocks are expected to surge to a six-year high as production outpaces consumption.

Picture by USDA report

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