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.