Uganda’s annual coffee exports rise 7 percent
KAMPALA, February 19, 2024 – Uganda’s coffee exports surged by 7 percent over the twelve months from February 2023 to January 2024, reaching a total of 6.10 million bags and generating an impressive revenue of US$ 983.41mln [ about Shs 3.735 trillion ].
According to the Uganda Coffee Development Authority [UCDA], This marks a notable increase in receipts received compared to the US$ 865.76mln earned in the preceding year (February 2022 to January 2023).
Meanwhile, in January 2024, coffee exports totaled 481,586 60-kilo bags, amounting to US$ 85.57mln. UCDA notes a 2.53 percent decrease in quantity but a substantial 27.23 percent increase in value compared to the same month last year.
The dip in monthly coffee exports is attributed, in part, to a smaller Arabica harvest in the Elgon region. UCDA further explains, “The value of coffee, however, increased in tandem with higher global coffee prices driven by ongoing concerns about the supply situation, particularly in Indonesia and Vietnam.”
For February 2024, Uganda anticipates coffee exports to reach 450,000 bags. The winding down of the main crop north of the equator and the fly crop in Southwestern and Greater Masaka are contributing factors.
Turning to the global coffee landscape, the production estimate for 2023/24 stands at 171.4mln bags, reflecting a 6.9mln bag increase from the previous year’s 164.5mln bags. Higher production in Brazil, Colombia, and Ethiopia is expected to offset reduced output in Indonesia.
Global exports are projected to rise by 8.4mln bags, reaching 119.92mln bags, primarily fueled by robust exports from Brazil. The forecast for global coffee consumption is 169.5mln bags, with the most significant increases expected in the European Union, the United States of America, and Brazil.
https://thecooperator.news/global-coffee-exports-rose-12-6-percent-in-december-2023/
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