Coffee prices readjust and certified stocks grow: ICO report
This is a decrease of 7.6 percent from the previous month, snapping a 17-month streak of increases.
According to the ICO, every category of coffee experienced a decrease in March, with Brazilian Naturals experiencing the largest decrease of 9.4 percent.
The report indicates that certified stocks at the end of March 2022 reversed a downward trend, with the New York Board of Trade increasing 13.9 percent from February 2022, from 1.08 million to 1.23 million 60-kilogram bags of coffee.
Additionally, the London International Financial Futures and Options Exchange certified stocks increased by 90,000 bags, or 5.8%, from 1.54 million to 1.63 million bags during the same period.
Global exports of green beans totalled 9.88 million bags in February 2022, down from 10.24 million bags the previous year.
South America’s exports decreased by 14.5 percent to 24.99 million bags between October 2021 and February 2022.
Asia and Oceania’s coffee exports increased by 25.0% to 3.96 million bags in February 2022, and by 21.6% to 18.67 million bags in the first five months of the coffee year 2021/22.
Africa’s exports fell 11.9 percent to 975,000 bags in February 2022, down from 1.11 million bags in February 2021.
Exports from Mexico and Central America fell by 4.1 percent to 1.47 million bags in February 2022, compared to 1.53 million bags in February 2021.
Total soluble coffee exports increased by 64.9% to 1.46 million bags in February 2022, up from 888,000 bags in February 2021.
The latest provisional forecast for total production in coffee year 2021/22 remains unchanged at 167.2 million bags, a decrease of 2.1 percent from the previous coffee year’s 170.83 million bags.
Global coffee consumption is expected to increase by 3.3% to 170.3 million 60-kilogram bags in 2021/22, up from 164.9 million in 2020/21.
Consumption is forecast to exceed production by 3.1 million bags in 2021/22. Supply and demand trends may be influenced by fluctuations in the global economy, increased costs of inputs and production, as well as imports and consumption, as a result of the Ukraine conflict.
