KAMPALA, November 22, 2023 – Uganda’s coffee exports in October 2023 were 470,080 60-kilo bags, which earned the country US$ 78.92 million, according to Uganda Coffee Development Authority [UCDA].
However, the country’s coffee exports in October 2023 declined by about 18.5 percent when compared to 577,073 60-kilo bags exported in September 2023, which brought in US$ 94.34mln.
The September 2023 coffee report projected Uganda would export 500,000 bags in October 2023, pointing out that the main harvesting season in Greater Masaka and South-Western region had ended and that exporters would drawdown on their stocks to fulfill the contractual obligations with buyers.
However, UCDA in its October 2023 report notes that coffee exports were higher than exports in October 2021 on account of a good crop harvest in South-western region and the prevailing good prices on the global scene which prompted exporters to release stocks.
Meanwhile, UCDA says coffee exports for the twelve months [November 2022-October 2023] amounted to 6.16mln bags worth US$ 952.24mln compared to 5.83mln bags worth US$ 883.30mln in the previous period [November 2021-October 2022].
Commenting on the outlook for November 2023, UCDA in the latest report projects 500,000 bags of coffee will be exported. “The main harvesting season in Central and Eastern regions has started. Exporters will continue to drawdown on their stocks to fulfill contractual obligations with buyers,” says the UCDA report.
Uganda is Africa’s top producer of Robusta coffee and top exporter of coffee. The country also grows Arabica coffee.
Globally, world coffee production for 2023/24 is forecast to reach 174.3mln bags, 4.3mln bags higher than the previous year, with higher output in Brazil and Vietnam expected to more than offset reduced production in Indonesia.
Meanwhile, global exports are expected to increase by 5.8mln bags to a record 122.2mln bags higher than 116.4mln bags the previous year, primarily on strong shipments from Brazil.
Global consumption is forecast at 170.2mln bags, with the largest increase in the European Union, the United States and Brazil.
https://thecooperator.news/annual-coffee-exports-fetch-uganda-over-us-940mln/
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