ICO releases September coffee market report: Robusta prices near historic highs, coffee market expected to face shortage

,9,120/.But the prices of all categories of coffee have dropped to varying degrees compared to last month.

8,936,9073.2%.

,13%,.Africa's coffee exports increased from 1.23 million bags last year to 1.37 million bags, a rise of 10.9%.Uganda is Africa's largest producer and exporter of Robusta coffee.ICO judges that economic sluggishness in Asia and Oceania, reduced coffee production in Vietnam (the world’s largest producer of Robusta coffee), and opportunities taken by Brazil and Uganda have allowed them to fill the market gap left by Vietnam.

,,.The increase in Robusta exports may be related to reduced Arabica production and the global economic situation.People choose to substitute Robusta coffee for the more expensive Arabica coffee.

ICO2021/221.4%,1.685,2022/231.7%,1.713.The 2021/22 season was a high-output year for Brazilian coffee production, but due to rising global fertilizer prices and adverse weather, the total global coffee output decreased. In the 2022/23 season, although Brazil is in a low-output cycle, the organization expects a 4.6% production increase in Africa to offset Brazil’s decline, resulting in an overall rise in global coffee production.

2021/22,4.2%,2019,,,.The global economic slowdown in 2022/23, along with rising living costs, will impact coffee consumption. While consumption is expected to grow, the rate of increase is likely to slow.ICO expects global coffee consumption demand to grow by a further 1.7% to 178.5 million bags in the 2022/23 season. With production unable to keep up with demand, ICO forecasts a global coffee supply shortage of 7.3 million bags.