coffee futures prices today - ICCO Report Global Coffee Production 2014-2015 : The International Coffee Organisation have increased their global coffee production figure for the just completed October 2014 to September 2015 coffee year by 1.6 million bags, to now report production for this past coffee year to have been approximately 143.3 million bags. This increase they note has been mostly related to the improved performance from Colombia, but one must also keep in mind that due to the official nature of this organisation, they have to likewise include the official figures as are reported by their member producers.
Therefore with the ICO figures including the relatively conservative official figures from countries such as Brazil and Vietnam, one might look to add four to five million bags to this official ICO crop assessment. Thus with a world coffee consumption of close to 150 million bags, it would indicate only a relatively modest deficit supply over the previous coffee year and one that would have easily been covered, by the good carryover stocks into this coffee year. Albeit that the Brazil stocks are steadily being liquidated and unless there is a good Brazil coffee crop for next year, there would be a significant tightening of coffee supply for the follow on 2016 to 2017 coffee year. Albeit so far and with the Brazil weather conditions towards this next 2016 crop not proving to be a worry, the threat of Brazil tightening up coffee supply on the longer term is presently not seen to be a supportive factor for market sentiment.
Therefore with the ICO figures including the relatively conservative official figures from countries such as Brazil and Vietnam, one might look to add four to five million bags to this official ICO crop assessment. Thus with a world coffee consumption of close to 150 million bags, it would indicate only a relatively modest deficit supply over the previous coffee year and one that would have easily been covered, by the good carryover stocks into this coffee year. Albeit that the Brazil stocks are steadily being liquidated and unless there is a good Brazil coffee crop for next year, there would be a significant tightening of coffee supply for the follow on 2016 to 2017 coffee year. Albeit so far and with the Brazil weather conditions towards this next 2016 crop not proving to be a worry, the threat of Brazil tightening up coffee supply on the longer term is presently not seen to be a supportive factor for market sentiment.
0 Response to "ICCO Report Global Coffee Production 2014-2015"
Post a Comment