Rabobank Early Estimates 8% Higher Brazil Coffee Crop in 2023-24

By Dayanne Sousa

(Bloomberg) --

Expected growth to be driven mainly by the arabica variety as rains are seen favoring the development of crops, analyst Guilherme Morya said during a press conference

A few arabica producing areas are still at risk of having some dryness during December and January
Definitive estimates for the crop depend on weather conditions over the next couple of months
Estimate for the 2022-23 season remains at 63.2m bags of both arabica and robusta varieties
A global surplus could be seen in 2023-24 as consumption expected to slow down on economic recession, energy crisis
Brazilian domestic coffee consumption seen increasing 2.3% to 22 million bags on lower prices
NOTE: Bag weighs 60 kg