The market was shuffling its feet looking a little for direction, probably because of the fact that they are awaiting harvest reports form areas like Columbian, Peru and neighbouring countries
Summary reading the market reports for last week (19– 25 July 2010). Please note that we are only interested in notes about Arabica and Arabica producing countries:
- Ivory Coast, has a constraint on coffee export imposed until the official ban was raised in April has seen improved export figures in the last two months.
- In a reverse of earlier forecasts from the Coffee Board in India the forthcoming October 2011 to September 2012 coffee crop shall not decline to below 5 million bags, instead they have now forecasted that the new crop shall in fact be 6.71% higher than the past crop, to a total of 5,370,833 bags.
To be noted
- Nicaragua reported that the countries coffee exports in June were 47% lower than the same month last year, at a total 115,119 bags. The countries cumulative exports for the first nine months of this present October 2010 to September 2011 coffee year marginally below that of the same period in the previous coffee year, at a total 1,303,177 bags. With weather conditions conducive through development, the next biennially bearing larger crop that starts harvest in October forecast to be close to 1.65 million bags.