This year’s coffee production in Brazil is harvesting a crop below its potential. With this, the country will only be able to increase the volume produced in 2023.
However, relief for tight 2022 stocks should only happen from 2024 onwards, according to the Brazilian Coffee Industry Association (Abic). The president of Abic, Pavel Cardoso, explained how coffee producers, industry and consumers are this year with these forecasts.
“The July 2021 frost was devastating for coffee. Exponential prices reached the Brazilian industry, they were more than 155% high, the industry was then forced to pass on 55% to Brazilian supermarkets, which reached the pockets of consumers in our Brazil,” he said.
“It is a delicate moment. Supply is limited and the industry is apprehensive. If we have rains in the south of Minas, especially, the supply will be normal and prices will be more stable over the next few months. If we have less rain at this time of the burst, then we will have an important moment for further increases in coffee prices.“
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Source: CNN Brasil
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