Brazil accounts for 39% of world coffee exports

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World coffee exports totaled 10.48 million bags in February, according to the ICO, down 6.1% from February last year. Despite the decline in February, global shipments total 52.81 million bags in the first 5 months of the ICO’s 20/21 business season (Oct/Sep). This corresponds to an increase of 2.5% over the 51.54 million bags shipped in the same period of 19/20.

Highlight on Brazilian arabica naturals, which accumulate shipments of 19.67 million bags, up 20.8% from the same period last year. Brazil accounts for 39% of world shipments this season. The other highlight is the group of other milds, with shipments accumulated in 20/21 of 7.93 million bags, down 10.8% from the same period of the previous season.

The ICO’s global coffee differentials (ICO bases – ICE US) show slight adjustments in early April. Positive highlight on Colombian milds, which are indicated at +47.42 cents against the second position on ICE US, up 3.6% from the average premium of +45.77 last March. Central American milds, on the other hand, appear as a negative highlight, falling 2.72%, indicated at +34.27 cents against ICE US at the beginning of April.

Brazilian naturals are indicated at -9.67 cents against the second position on ICE US. The export differentials of Brazilian coffee advances 1.15% in relation to the March average, while robusta differentials fell 1.45% to -57.02 cents against ICE US. Financial uncertainty and quieter demand help to inhibit a more significant adjustment in international coffee trading levels.