The report of the International Coffee Organization (ICO) points out that the global coffee market should register a surplus of 5.26 million bags of 60 kg in the season 2020/2021 (October to September), which exceeds the surplus of 4, 14 million bags seen in 2019/2020.
In its first projection for the 2020/2021 season, the ICO stated that production should reach 171.89 million bags, up 1.9% over the previous season, while consumption was projected at 166.62 million bags. bags, up 1.3%.
"The global demand for coffee is expected to have a limited recovery, as measures of social distance remain in effect and the global economy is recovering slowly," said the ICO, adding that the increase in demand will not be enough to improve the balance of the Marketplace .
The Organization explains that this may limit further increases in coffee prices later in the year, unless demand recovers faster than currently forecast. The Reuters survey also predicts a large surplus in 2020/2021, predicted for a surplus of 8 million bags.
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