In its July monthly report, the International Coffee Organization predicted that worldwide coffee supply will fall well short of demand in the upcoming season, which begins in October, but raised its projection for a coffee surplus in 2020/21.
“Because certain important sources have been impacted by climate-related shocks, the coffee year 2021/22 is likely to see a significant fall in global production. Total supply is anticipated to fall short of global demand “The intergovernmental agency stated.
It did not provide a figure for its predicted deficit next season, but increased its surplus estimate for 2020/21 to 2.6 million bags from 2.30 million bags in its June report, owing to a lower demand forecast.
Consumption is now expected to be 167.01 million bags this season, down from a June forecast of 167.58 million bags and below the 167.6 million projected before the epidemic.