São Paulo (Reuters) – Cooxupé, Brazil’s largest coffee growers’ cooperative, said Thursday that there will be a reduction in Arabica production this year, in terms of initially expected quantities, but did not detail the percentages of Arabica production. reduction.
In March, Cooxupé estimated the production of cooperative members at about 7.5 million bags weighing 60 kilograms, which is stable compared to 2021, but with a sharp decline compared to the production of 10.99 million bags in 2020, when the volume set a record.
Asked by Reuters about the signs of an audit of Brazil’s harvest accounts by consultancy Safras & Mercado, Cooxupé replied that “it has not yet provided a new estimate, but it can already be confirmed that there will be a decline.”
The 2022 crop was affected by the historic drought of 2021, as well as the frost that hit key production areas last year.
According to the cooperative that operates in southern Minas Gerais and part of São Paulo, there is no way to quantify the bad harvest at this time.
This week, Arabica coffee prices were trading at a two-and-a-half month high in New York, due to supply concerns in Brazil.
(Reporting by Roberto Samora. Editing in Spanish by Marion Giraldo)
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