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LatinNews Daily - 15 November 2021

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In brief: Brazil’s coffee exports down this year

* Brazil’s national council of coffee exporters (Cecafé) has released its latest statistics for October, which show that coffee exports continue to fall, while revenue from coffee exports grows. Brazil exported 3.43m sacks of coffee in October (one sack = 60kg), down 23.8% on exports a year earlier, in October 2020. However, revenue for the month has risen 11.3% year-on-year to US$628.5m. Over the course of 2021 so far (January to October), Brazil’s coffee exports fell 6.3% year-on-year, but the revenue these exports generated was up 7%. The Cecafé president, Nicolas Rueda, attributed the drop in exports to logistical bottlenecks in maritime trade globally. “The scenario is concerning because [...] these obstacles will drag on into 2022, due to the large volume of Brazilian agricultural products accumulated in ports”, Rueda said, also citing concern with high costs. Rueda cites a strong US dollar and high coffee prices internationally as explaining the strong financial performance of Brazil’s coffee exports this year so far.