Coffee exports from Brazil will increase by 3% in 2022-23 says Safras

Coffee exports from Brazil are likely to grow 3% in the 2022-23 season (July/June), reaching 39.25 million units of 60 kg sacks after a significant decrease in the current season (2021-22). According to an assessment of the consulting firm Safras & Mercado, published on Wednesday, March 23, the harvest of Brazilian arabica beans will be most productive next season.

Exports are expected to fall 18% in 2021-22 compared to the previous cycle, owing to the occurrence of droughts and frosts, which are likely to have lingering effects on the upcoming harvest.

Last week, Safras released its estimate of Brazilian production for 2022/23, predicting an increase of 8% compared to the current season, to 61.1 million bags, a volume that represents a decrease of 12% compared to 2020, the last year of growth in the Arabica cycle.

“We understand that Brazil’s supply growth is rather limited, now allowing much surplus so much so that exports are likely to grow only 3%… which limits price correction,” says analyst Gil Barabach during an event held online this Wednesday.

Source: Money Times

To read the full original article, please go to: https://www.moneytimes.com.br/exportacao-de-cafe-do-brasil-deve-crescer-3-em-2022-23-diz-safras/

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