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Introduction :Coffee Market Summary Report - September 2023 In the latest International Coffee Organization (ICO) report, various key figures and data have been highlighted, providing insights into the global coffee market. Here is a summarized report by Servicoff Limited:

Coffee Market Summary Report – September 2023

Introduction :Coffee Market Summary Report – September 2023

 

In the latest International Coffee Organization (ICO) report, various key figures and data have been highlighted, providing insights into the global coffee market. Here is a summarized report by Servicoff Limited:

 

 

Source: International Coffee Organization (ICO) Coffee Market Report – September 2023

 

 

 1.Africa’s Coffee Exports:

 

– Exports of all coffee forms from Africa recorded a substantial growth rate of 10.9% in August 2023,

compared to August 2022, reaching 1.37 million bags.

– For the first 11 months of the current coffee year, Africa exported a total of 10.84 million bags, down 1.5% from the previous coffee year 2021/22.

– Africa has experienced three consecutive months of positive export growth, primarily due to continued global demand for Robusta coffee.

– The reduced volume of coffee from the Asia & Pacific region, particularly Vietnam, contributed to Africa’s export growth. Uganda stepped in to fill this gap, increasing its exports by 48.4% in August 2023, reaching 0.74 million bags.

 

 

Total Exports by Form (October-August) Source: International Coffee Organization (ICO) Coffee Market Report – September 2023

 

2.Coffee Forms:

 

– Total exports of soluble coffee from all regions decreased by 4.6% in August 2023 compared to August 2022, with 0.89 million bags shipped.

– Over the first 11 months of the coffee year 2022/23, a total of 10.46 million bags of soluble coffee were exported, reflecting a 5.7% decrease from the previous coffee year.

– The share of soluble coffee in total coffee exports dropped from 9.2% to 8.6% for the year to date in August 2023. Brazil remains the largest exporter of soluble coffee, with 0.32 million bags shipped in August 2023.

– Exports of roasted coffee beans saw a significant decline of 39.9% in August 2023, with 58,226 bags compared to 96,937 bags in August 2022.

Production and Consumption:

 

– Global coffee production decreased by 1.4% to 168.5 million bags in the coffee year 2021/22 due to off-biennial production and adverse meteorological conditions.

– It is expected that global coffee production will bounce back, increasing by 1.7% to 171.3 million bags in 2022/23. The impact of biennial production, particularly from Brazil, plays a crucial role in this recovery.

– Arabica coffee production is projected to increase by 4.6% to 98.6 million bags in the  coffee year 2022/23, reflecting a recovery from the 7.2% decrease in the previous year. Arabica’s share of total coffee production is expected to rise to 57.5%.

Table : World Supply/Demand Balance Source: International Coffee Organization (ICO) Coffee Market Report – September 2023

 

– World coffee consumption increased by 4.2% to 175.6 million bags in the coffee year 2021/22, driven by pent-up demand and strong global economic growth.

– For coffee year 2022/23, coffee consumption is expected to grow at a decelerating rate of 1.7%, with Europe showing the largest decrease in consumption among all regions.

– The global coffee market is expected to run another year of deficit, with a projected shortfall of 7.3 million bags.

This summarized report provides a snapshot of the coffee market as per the ICO’s September 2023 report. For in-depth analysis and further insights, it is recommended to refer to the complete ICO Coffee Market Report for September 2023.

Source: International Coffee Organization (ICO) Coffee Market Report – September 2023

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