The coffee harvest 2023/24 Brazilcurrently in the early stages of harvesting, will be slightly higher than expected after positive weather as the trees were healthy and able to develop the fruit load well, the plantation said on Thursday. brokerage Pine Agribusiness.
The brokerage published a report with its conclusions after its second harvest tour to the coffee-growing areas of Brazil and raised its forecast for the production of arabica beans in almost 800,000 bags, up to 34.87 million bags.
kept stable its robusta coffee production figure at 20.29 million bags, for a total harvest of 55.16 million bags. The figure is close to government forecasts and lower than most private estimates.
Pine states in his report that despite a poor flowering phase last year, the arabica trees had enough energy to produce a reasonable fruit load and ensure good bean growth, leading to the brokerage. to raise your expectations.
Pine, however, sees a very tight supply situation in Brazil even after the harvest and says that exports or local consumption will have to fall over the next cycle to cope with lower coffee availability.
It projects exports of 35.39 million bags in 2023/24 and a local consumption of 21 million bags.
Source: Reuters
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