coffee futures prices today - Indian coffee crop forecast 2015-2016 : The Global Agricultural Information Network of the U.S. Department of Agriculture Foreign Agricultural Service has forecast that the Indian coffee crop for this new October 2015 to September 2016 coffee year shall be 140,000 bags or 2.57% lower than their assessment of production for the previous coffee year, at a total of 5.3 million bags. This new crop which they assess shall be made up by 71.89% robusta coffees and 28.11% arabica coffees, they suggest shall be buoyed in terms of coffee supply for this new coffee year, by a carryover stock of in excess of 2.69 million bags.
This forecast in terms of the official forecast on the part of the Coffee Board of India, can be seen to be somewhat conservative in nature, as they had earlier in the year on the basis of the flowerings for the new crop, forecast coffee supply for this new coffee year at closer to 5.9 million bags. Following a crop for the previous coffee year of approximately 5.4 million bags, which is a number that the USDA has agreed with.
Meanwhile and despite the many high profile coffee shop chains operating within mostly the main urban centres in India, the USDA have estimated that domestic coffee consumption shall remain flat for this new coffee year, at a relatively modest 1.25 million bags. Therefore leaving the major part of the country’s coffee production for export, which if correct would indicate that with the combination of the only marginally lower new crop and the relatively high carryover stocks, that there shall be steady Indian coffee supply to the consumer market during this coffee year.
This forecast in terms of the official forecast on the part of the Coffee Board of India, can be seen to be somewhat conservative in nature, as they had earlier in the year on the basis of the flowerings for the new crop, forecast coffee supply for this new coffee year at closer to 5.9 million bags. Following a crop for the previous coffee year of approximately 5.4 million bags, which is a number that the USDA has agreed with.
Meanwhile and despite the many high profile coffee shop chains operating within mostly the main urban centres in India, the USDA have estimated that domestic coffee consumption shall remain flat for this new coffee year, at a relatively modest 1.25 million bags. Therefore leaving the major part of the country’s coffee production for export, which if correct would indicate that with the combination of the only marginally lower new crop and the relatively high carryover stocks, that there shall be steady Indian coffee supply to the consumer market during this coffee year.
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