ICO raises 2018-19 international Coffee surplus forecast

ICO raises 2018-19 international Coffee surplus forecast

by admin- Friday, April 5th, 2019 08:50:50 PM

The International Coffee Organization (ICO) has raised its forecast for worldwide coffee manufacturing in 2018/19 to 168.05 million 60-kg luggage from its earlier estimate of 167.47 million.

World consumption in espresso yr 2018/19 is anticipated at 164.99 million luggage as compared to 161.38 million bags in 2017/18.

The inter-governmental body now sees a worldwide surplus of 3.06 million luggage for the season as opposed to a formerly expected surplus of two.29 million.

In 2017/18, there was a surplus of four.Sixteen million baggage, following a deficit of 366,000 baggage in espresso yr 2016/17. This overhang of supply has significantly contributed to contemporary low prices.

The ICO reduce its estimate for arabica manufacturing in 2018/19 to 103.71 million baggage from 104.01 million however raised robusta production to 64.37 million from sixty three.50 million.

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