ICO points to coffee deficit of 486 thousand bags in 2019/20

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In June, world coffee exports fell 5.3% in comparison with the same period last year, totaling 10.57 million bags. In the period from Oct/2019 to Jun/2020, global shipments totaled 100.5 million bags, down 5.1% from the same period last season. The weaker performance of world exports stems from this season’s lower production.

The ICO estimates the world production at 168.00 million bags in 2019/20 (Oct/Sep), down 2.9% from the previous cycle. Consumption is projected at 169.49 million bags, 0.3% higher. Thus, the organization projects a deficit of 486 thousand bags in 2019/20, against a surplus of 5.16 million bags in the previous season. The balance is still comfortable, even more so if we add the surplus of 6.5 million reached in 2017/18