By Tarso Veloso
Brazil’s coffee exports were 2.8m bags in January, a 10% reduction compared with a year earlier, and the expectation is that shipment volumes will keep trending lower for the next few months, according to HedgePoint Global Markets.
Brazil’s exports will fall below previous year’s totals due to crop losses and logistical woes
Losses will also happen this year and “improvement in rains should only positively impact the ‘23-’24 crop, elevating the forward curve prices”
Rains have stabilized since November, but drought until October had already damaged crops for ‘22-’23
NOTE: One bag weighs 132 pounds (60 kilograms); Brazil is world’s biggest coffee producer
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