The International Coffee Organization (ICO) said yesterday that coffee output in Ethiopia might drop by 18 percent in the 2011-12 crop year as a result of a smaller crop in the country.
Output in Ethiopia is expected to fall to 14.4 million bags the coming season from 17.5 million bags in the 2010-11 crop year. The ICO attributed the drop in production to poorer performance in the country.
Output in Ethiopia is expected to fall to 14.4 million bags the coming season from 17.5 million bags in the 2010-11 crop year. The ICO attributed the drop in production to poorer performance in the country.
The coffee output in Brazilis is estimated to drop to 43.5 million bags from 48.1 million bags as trees enter the lower-yielding half of a two-year cycle, the London based organization said. Production in Asia and Oceania is expected to increase by 5.6 percent to 37.1 million bags, the ICO estimated in yesterday's report.Meanwhile, coffee production in Mexico and Central America is expected to increase by 4.2 percent to 18.3 million bags on improved harvests in Guatemala, Nicaragua, and Mexico, the organization said.
According to the organizations estimate, world output will drop to 130 million bags from 133.3 million bags in 2010-11. Arabica bean output is going to drop by 6.2 percent to 78.3 million bags, while the robusta crop will rise by 3.9 percent to 51.7 million bags, the ICO estimated.
The ICO said that coffee consumption was estimated at 134 million bags globally in 2010, which was 131.3 million bags in 2009.
Source: Bloomberg
