World coffee consumption seen up 3.3% in 2021/22, says ICO

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World coffee consumption is projected to grow by 3.3%, to 170.3 million 60-kg bags in the 2021/22 coffee year as compared to 164.9 million for coffee year 2020/21, the International Coffee Organization (ICO) said in its latest monthly report, adding that provisional outlook for production in the same period remains unchanged at 167.2 million bags, a 2.1% fall over the previous coffee year.

In 2021/22, consumption is expected to exceed production by 3.1 million bags, the ICO said.

Highlights of the report:

  • The ICO Composite Indicator Price (I-CIP) gained 1.8% from March to April 2022, averaging 198.37 US cents/lb for the latter.
  • Global exports of green beans in March 2022 totalled 11.79 million 60kg bags, compared with 11.48 million bags in the same month of the previous year, up 2.6%. The Brazilian Naturals and Robustas were the main forces behind the increase, shipping 3.58 million bags and 4.65 million bags of green beans in March 2022 as compared with 3.44 million bags and 4.31 million bags in March 2021, respectively, up 3.9% and 7.8%.
  • Global exports of all forms of coffee totalled 13.16 million bags, compared with 12.65 million bags in the same month of the previous year, up 4.0%. The higher increase was due to the 19.4% rise in exports in Asia & Oceania shipping 5.03 million bags in March 2022 as compared with 4.21 million bags in March 2021, largely due to export by Vietnam, which recorded an increase of 29.4% in March 2022 up to 3.62 million bags from 2.8 million bags in March 2021.
  • With regards to the other producing regions, in the current coffee year so far, October 2021 to March 2022, South America’s exports decreased by 12.1% to 30.11 million, while it was up by 5.6% at 6.5 million bags as compared with 6.16 million bags for Central America and Mexico, over the same period. Exports from Africa totalled 6.25 million bags in October 2021 to March 2022 as compared with 6.34 million bags in the same period in coffee year 2020/21.
  • Total exports of soluble coffee grew by 18.7% in March 2022 to 1.29 million bags from 1.09 million bags in March 2021. In the first six months of coffee year 2021/22, a total of 6.53 million bags of soluble coffee were shipped, an increase of 13.0% from 5.78 million bags exported in the same period during the previous coffee year.

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