Global coffee exports up 9.5 percent in February 2024
KAMPALA, April 5, 2024 – Global green bean exports in February 2024 amounted to 10.43 million bags, as compared with 9.52mln bags in the same month of the previous year, up 9.5 percent, according to the International Coffee Organisation [ICO].
ICO in its Coffee Market Report for February adds: “These are the largest February exports on record, beating the previous record set in 2019 of 10.34 million bags. The magnitude of the latest increase in exports of green beans, however, is a more reflection of a favourable base effect and a comparative normalisation of supply.”
According to the report, from December 2022 to June 2023, the exports of green beans fell consecutively, with the cumulative total decreasing by 8.2 percent to 66.92mln bags, the lowest level seen for those same seven months since December 2016 to June 2017.
The cumulative total for coffee year 2023/24 to February is 50.82mln bags, as compared with 45.5mln bags over the same period a year ago, up 11.7 percent. “Brazil was the main origin driving the growth, with exports expanding by 59.9 percent in February 2024 to 3.38mln bags from 2.11mln bags in February 2023, while among the different groups, the Brazilian Naturals were responsible,” says the report.
Meanwhile, according to the report, exports of all forms of coffee from Africa increased by 14.6 percent to 0.98mln bags in February 2024 from 0.86mln bags in February 2023. However, the cumulative total of 4.99mln bags for the first five months of coffee year 2023/24 remains down 2.5 percent as compared with the 5.1mln bags shipped in coffee year 2022/23.
The ICO report says “Ethiopia was the driving force behind the region’s increased exports in February 2024, with its own exports having increased by 103.9 percent to 0.2 million bags from 0.1 million bags in February 2023. The size of the rebound is due to a favourable base effect and a comparative normalisation of market circumstances.”
Contract disputes arising from a mismatch between local purchasing prices and global market prices had previously affected the volume of exports, leading February 2023’s shipment to be the lowest since 2010.
Soluble coffee
The report says total exports of soluble coffee decreased by 18.2 percent in February 2024 to 0.85mln bags from 1.04mln bags in February 2023. In the first five months of coffee year 2023/24, a total of 5.05mln bags of soluble coffee were exported, representing an increase of 5.0 percent from the 4.81mln 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 9.0 percent in February 2024, down from 9.5 percent in the same period a year ago. Brazil is the largest exporter of soluble coffee in February 2024, having shipped 0.26mln bags.
On the other hand, the report says exports of roasted beans were up 14.1 percent in February 2024 to 56,425 bags, as compared with 49,439 bags in February 2023. The cumulative total for coffee year 2023/24 to February 2024 was 0.32mln bags, as compared with 0.3mln bags in same period a year ago.
https://thecooperator.news/global-coffee-exports-up-38-percent-in-january-2024/
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