Uganda fetches Shs 4.6trn from coffee exports

KAMPALA, August 19, 2024 – Uganda’s coffee exports for twelve months [August 2023-July 2024] were 6.30 million bags worth US$ 1.25 billion [about Shs 4.6 trillion] compared to 5.84mln bags worth US$ 868.53mln [about Shs 3.2trn] in the previous year [August 2022-July 2023], according to Uganda Coffee Development Authority [UCDA].

UCDA in its Monthly Report July 2024, says the latest figures represent an increase of 7.94 percent and 43.94 percent in quantity and value respectively, noting that 69 percent of the total volume was exported by 10 exporters, out of 63 companies which performed during the month compared to 67 percent in June 2024.

Meanwhile, a total of 821,593 60-kilo bags of coffee valued at US$ 210.48mln were exported in July 2024. “This was an increase of 26.15 percent and 98.68 percent in quantity and value respectively compared to the same month last year,” says UCDA.

UCDA adds: “The monthly coffee exports volume was higher than the previous year and this was seen in Robusta exports as the newly harvested bigger crop from Greater Masaka and South Western regions reached the market.”

UCDA notes Arabica exports were, however, lower than the previous year due to a smaller harvest in Elgon region due to the bi annual off year cycle coupled with poor flowering in the region. “The value of coffee exports was higher in tandem with high global coffee prices as result of dry weather conditions in Brazil and Vietnam that are seen to affect coffee yields and therefore a likelihood of supply deficit in 2024/25.”

Outlook for August 2024

UCDA says coffee exports are projected to be 720,000 60-kilobags as the main harvest season south of the equator [Masaka and South Western regions] winds up.

Global situation

World coffee production for 2024/25 is forecast to increase by 7.1mln bags from the previous year to 176.2mln due primarily to continued recovery in Brazil and rebounding output in Indonesia. With additional supplies, global exports are expected to increase by 3.6mln bags to 123.1mln primarily on strong shipments from Indonesia and Brazil, according to United States Department of Agriculture, Coffee: World Markets and Trade report-June 2024.

https://thecooperator.news/global-annual-coffee-exports-up-3-8-percent/

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