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November 3rd 7th: How much coffee did the world produce?

Our latest DRWakefield coffee market report looks at global bean-related goings-on between Monday November 3rd and Friday November 7th, as harvest season continued for many nations and production volume statistics came in. Figures show that Brazil shipped around 3.04 million 60 kg bags of green coffee overseas during October, marking a significant increase from the 2.90 million exported during the same month last year, despite the country's recent weather troubles. And although Arabica shipments fell slightly year-on-year, Robusta exports rose by a huge margin, with 275,893 bags shipped overseas compared to 2013's 99,005. Commenting on the effect of the Brazilian weather on the global market as a whole, an official from the International Coffee Organization said: "The global coffee market will be in deficit of 800,000 60 kg bags during the 2014/15 crop year, harmed by projections that Arabica coffee from drought-stricken top-grower Brazil would outstrip supply by three million bags." Elsewhere in America, Guatemala's coffee exports fell by 32 per cent during the month, while Costa Rica's decreased by 10.5 per cent. In addition, almost one-fifth fewer beans were bought by foreign traders from Honduras in October, with ship crossings being delayed in anticipation of improved prices in the coming weeks. The month marked the beginning of the Honduras coffee harvest, with 24,413 60 kg bags being sold to international parties, indicating a decrease of 19.7 per cent in comparison to the same month in 2013. Production volume predictions were also released for Vietnam during the week, with the country expected to have 120,000 to 150,000 tonnes ready to ship abroad in November, indicating a potential increase of 14 per cent or more when compared to October's exports. Looking at Arabica and Robusta volumes in general, it can be seen that the five-day trading period started strongly for the former variety, but it reached its peak on Tuesday. With regard to Robusta, the market fluctuated throughout the week, following the movements of Arabica closely, particularly on the New York Stock Exchange.