I kept in mind (more in my archive of course) that from Tango's collection of expectation dated February, the median estimate was at 63.250 millon bags for Brazil production 20/21
Are we above of what was expected finally?
Still based on Tango's data I have 61.519 for a similar year: 18/19.
From today's Coffee Market report :
"The analysts Safras & Mercado have reported that harvesting of the new Brazil coffee crop has been completed. This report is based on the Safras & Mercado forecast for a new crop of 68 million bags or 15.80% higher than the previous biennially bearing lower crop in the 2019/2020 crop year. Of this total volume, arabica coffee production in the 2020/2021 crop year is seen to be 17.94% up from the previous year at their estimated 48 million bags, while robusta output is seen at 20 million bags, up 9.89% year on year."
On top of that I have read the following: "We expect a wide (coffee) surplus for 20/21 with Brazil accounting for most of the increase" Citi's note."
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