Global annual coffee exports up 3. 8 percent
According to ICO, the cumulative total for coffee year 2023/24 to June 2024 is 93.76mln bags, as compared with 84.73mln bags exported over the same period a year ago...
KAMPALA, August 6, 2024 – Global green bean exports in June 2024 totalled 9.78 million bags, as compared with 9.43mln bags exported in the same month of the previous year, up 3.8 percent, says the International Coffee Organisation [ICO] in its Coffee Market Report June 2024.
According to ICO, the cumulative total for coffee year 2023/24 to June 2024 is 93.76mln bags, as compared with 84.73mln bags exported over the same period a year ago, an increase of 10.7 percent.
ICO says the Brazilian Naturals, once again, was the main group responsible for the overall strong growth observed in June 2024, accounting for 158.9 percent of the 0.36-mln-bag net gain in total exports.
Meanwhile, total exports of soluble coffee increased by 6.5 percent in June 2024 to 0.94mln bags from 0.88mln bags in June 2023. In the first nine months of coffee year 2023/24, a total of 9.18mln bags of soluble coffee was exported, representing an increase of 5.3 percent from the 8.72mln 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 8.9 percent in June 2024, down from 9.3 percent in the same period a year ago. Brazil was the largest exporter of soluble coffee in June 2024, shipping 0.29mln bags.
Exports of roasted beans were down 24.4% in June 2024 to 59,467 bags, as compared with 78,618 bags in June 2023. The cumulative total for coffee year 2023/24 to June 2024 is 0.53mln bags, as compared with 0.54mln bags in same period a year ago.
Africa
Exports of all forms of coffee from Africa increased by 31.6 percent to 1.75mln bags in June 2024 from 1.33mln bags in June 2023. “As a result, the cumulative total of 11.03mln bags for the first nine months of coffee year 2023/24 is up 13.7 percent, as compared with the 9.7mln bags shipped in coffee year 2022/23,” says ICO in its report.
According to the report, Ethiopia and Uganda were the driving forces behind the region’s growth in June 2024, with their exports having increased by 80 percent and 18.3 percent, respectively, to 0.72mln bags and 0.67mln bags as compared with 0.4mln bags and 0.56mln bags in June 2023.
The Uganda Coffee Development Authority [UCDA] reported that the strong June 2024 exports were a result of the newly harvested bigger Robusta crop from the Greater Masaka region and South Western region reaching the market.
“As for Ethiopia, the origin is continuing to enjoy the combined benefits of resolution of contract disputes [arising from a mismatch between local purchasing prices and global market prices that had affected the volume of exports in the first half of calendar year 2023] and logistics,” says the report.
The report says Ethiopia’s exports were negatively affected by the lack of ships available at Djibouti, the main point of exit for the country, due to the insecurities around the Red Sea. It was reported that, in early 2024, the availability of vessels was reduced to one per month when, previously, at least one was available per day. However, on 28 March 2024, Maersk, a shipping company, released a statement lifting its suspension of all bookings to and from Djibouti, which was implemented on 30 January 2024.
Buy your copy of thecooperator magazine from one of our country-wide vending points or an e-copy on emag.thecooperator.news
Views: 17
