June 14 2019
With the exception of some of the conilon robusta coffee districts in the north of Espirito Santo state, the Brazil coffee districts remained dry this week, which is assisting to accelerate the new crop harvest. In this respect the analysts Safras & Mercado have estimated that almost 40% of the new Brazil coffee crop has already been harvested.
In this respect and based on the Safras & Mercado forecast for a new crop of 58.9 million bags, the report would indicate that so far approximately 23 million bags of the new crop have been harvested. These coffees made up from approximately 10 million bags of conilon robusta coffees and approximately, 13 million bags of arabica coffees.
The Brazil crop supply agency CONAB have estimated that as at the end of March this year and ahead of the new crop harvest, that private farm and trade coffee stocks in Brazil were 3,067,000 bags or 31.21% higher than the same time last year, at a total of 12,893,000 bags. These stocks made up from 11,851,000 bags of arabica coffees and 1,043,000 bags of conilon robusta coffees, with the former arabica coffees stocks due to come to the fore to supplement the smaller arabica coffee harvest that has been forecast for this year. Thus, to assist to maintain the prevailing relatively high volumes of monthly coffee exports, from this leading producer.
The Agricultural Ministry in Colombia have reported that the government have allocated additional funding for the support of the country’s coffee farmers, so as to provide farmers with affordable lines of credit. This being in addition to the funding that they are already providing, to assist farmers with their on going program to replace aged coffee trees with new disease resistant and higher yielding coffee varieties.
The U.S. Climate Prediction Centre weather forecasting agency have reported that they foresee a 66% chance that the El Niño phenomenon within the Pacific Ocean shall continue for the next three to four months, but with only a 50% to 55% chance for it to continue for a longer period. This is though a relatively mild El Niño that is taking place and so far, it has not brought with it any threatening weather issues for the Pacific Rim coffee producing countries and likewise, for coffee producers further afield.
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