Brazil coffee export revenue hits record high in May 2024

In May, Brazil’s coffee export revenue reached an unprecedented monthly high of $1.017 billion, an 85.9% increase compared to the same month in 2023, according to the Brazilian Coffee Exporters Council (Cecafé).

The volume of coffee shipped in May also surged, with 4.4 million 60 kg bags exported, marking a 79.6% increase from May 2023.

Cecafé attributed this performance to the strong export of canephora coffees, including Robusta and Conilon varieties. In May alone, 868.3 thousand bags of canephora coffees were exported.

Brazil has now exported 43.7 million bags from July 2023 to May 2024, nearing a record-breaking cycle. Cecafé President Márcio Ferreira highlighted that this total is just 2 million bags shy of the 2020/21 record of 45.7 million bags.

“This new record volume is very likely to be achieved since we have been shipping over 4 million bags per month since October last year,” Ferreira projected.

The chart below shows Brazil’s export volume of coffee beans. The data is from DataLiner.

Coffee Beans Export Volume | Jan 2021 – Apr 2024 | WTMT

Source: DataLiner (click here to request a demo)

From January to May 2024, Brazilian coffee exports totaled 20.7 million bags, a record for this period and a 52.1% increase from the same timeframe last year. Revenue for this period was $4.47 billion, a 50.8% increase compared to 2023.

The growing interest in Brazilian canephora is partly due to supply issues from major producers like Vietnam and Indonesia, as well as climate challenges in other producing regions such as Mexico and Colombia.

Despite the U.S., Germany, and Belgium remaining the top importers of Brazilian coffee, there has been a notable increase in purchases from other producing countries.

Mexico, for example, increased its imports by 928.8% from January to May 2024 compared to the same period last year, rising from 38.7 thousand bags to 398.6 thousand bags. Vietnam also saw a significant increase, with a 265% rise from 39.6 thousand bags in the first five months of 2023 to 144.7 thousand bags in the same period this year.

Source: Globo Rural

Click here to view the original article: https://globorural.globo.com/agricultura/cafe/noticia/2024/06/brasil-bate-recorde-na-receita-de-exportacao-de-cafe-em-maio.ghtml

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