Coffee traders speed up shipments before EU deforestation law, says ICO
May, 24, 2024 Posted by Gabriel MalheirosWeek 202421
Coffee importers have increased the pace of shipments recently, seeking to avoid problems after December when the European Union’s Regulation on Deforestation Free Products (EUDR) enters into force, said the International Coffee Organization (ICO) on Wednesday, May 22.
ICO Executive Director Vanusia Nogueira said coffee stocks at producing countries are falling as importers rush to send the beans to countries in Europe, ahead of the new legislation that will deny entrance of agricultural products produced on deforested land.
“Importers are speeding up shipments because there are questions about the law that the Europeans didn’t answer yet,” said Nogueira on the sidelines of the International Coffee Seminar 2024 in Santos, Brazil. “And who knows if we are going to have surprises?” she said.
The following chart builds on DataLiner-derived data to show the export volume of coffee beans from Brazil between January 2021 and March 2024.
Brazilian Coffee Bean Exports | Jan 2021 – Mar 2024 | WTMT
Source: DataLiner (click here to request a demo)
The European Union is the largest market for coffee in the world, while the beans are produced in tropical countries. Nogueira said there is an expectation that the European Union would give an exemption on compliance during a certain period until producing countries and traders are ready to work with the new legislation, but that is not certain.
-
Ports and Terminals
May, 07, 2020
0
Paraná state government renews agreement to manage Paraná Ports for another 25 years
-
Ports and Terminals
May, 24, 2021
0
Lot STS10 at the Port of Santos may receive a new container terminal
-
Ports and Terminals
Feb, 01, 2024
0
Tax auditors strike affects release of cargo at Port of Manaus
-
Economy
Apr, 19, 2022
0
The Brazilian trade balance was at a surplus of US$ 17.28bn until the 3rd week of April