Commodity coffee prices have rebounded off of the recent lows in the wake of a new report that says coffee exports have declined year over year. Via the Global Coffee Report:
The International Coffee Organization (ICO) has revealed in its latest report that total coffee exports sunk to a five-year low for coffee year 2014-15.The ICO has reported that total exports came to 110.7 million 60-kilogram bags; the first year-on-year decreases in export volumes for five years.
Neither Arabica nor Robusta were exempt from the downward trajectory, with a 1.9 per cent and 4.9 per cent drop in shipments recorded for the two species.
The Colombian Milds group was successful in bucking the trend this coffee year, with the ICO reporting an increase of 11.6 per cent in exports.
Brazil recorded its largest ever volume on record, finishing on 36.3 million. The ICO said that this represents a 1.8 per cent increase on coffee year 2013-14.
The October report found that Vietnam saw severely restricted exports over the last 12 months, down 19.2 per cent to an estimated 20 million bags.
Full article here: Coffee exports drop to five-year low | Global Coffee Report