LatinNews Daily - 19 January 2022

* The Companhia Nacional de Abastecimento (Conab), the logistics arm of Brazil’s agriculture ministry, has announced that it expects Brazil’s coffee producers to collect 55.7m sacks of coffee this year (one sack = 60kg), a 16.8% increase on last year’s harvest - this would make the 2022 coffee harvest the third largest on record, after 2018 and 2020. A better harvest is expected this year due to coffee’s biennial harvest cycle, wherein a low-yield year is followed by a high-yield year; the 2021 harvest was also affected by adverse climate conditions, notably frosts and droughts in the main coffee-producing states of Minas Gerais, São Paulo, and Paraná. The impact of these weather events on coffee plantations is expected to persist, with Conab noting that arabica coffee in particular “will not manifest its full production potential”. Nonetheless, Conab notes that the arabica coffee harvest is expected to be 23.4% higher in 2022 than it was in 2021, totalling 38.7m sacks.

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