Rabobank Sees Coffee Market in Surplus of 3.3m Bags in 2022-23

By Archie Hunter

(Bloomberg) --

Global coffee market to log a surplus of 3.347m bags in 2022-23, rising from deficit of 5.203m bags in 2021-22, analysts at Rabobank said in a report.

Production to recover by 8.2% to 177.1m bags in 2022-23 vs 2021-22
Arabica output to rise 12% to 101.3m bags
Combined Brazilian production to rise by 17% to 66.5m bags
Total coffee demand seen rising 2.9% to 173.8m bags in 2022-23
Arabica forecast to average $2/lb in 1Q22, falling to $1.66/lb in 4Q22
Robusta to average $2,000/ton in 1Q22, falling to $1,800/ton in 4Q22
READ: High-End Coffee Inventory Has Biggest Slump Since ‘98: Chart