LatinNews Daily - 17 January 2023

In brief: Brazil registers record coffee export revenue in 2022

* Brazil’s national council of coffee exporters (Cecafé) has released its final report for 2022, showing record revenues for the country’s coffee exports despite a lower volume of exports compared to 2021. Export revenue reached US$9.2bn, an increase of 46.9% from the 2021 revenue. The export volume was 39.35m sacks of coffee (one sack = 60kg), down 3.1% on the volume reported for 2021. Cecafé president Márcio Ferreira attributed the high revenue to favourable prices and exchange rates, stating that “the commercial dollar remained above R$5 through almost all of last year” and that “the average price per sack, US$234.64, was the highest it had been in the past five years and rose 52% from the previous year.” To explain the lower export volume, he pointed to several factors, including the reduced availability of shipping containers, difficulties with bookings, cargo rollovers, and higher exporting costs. He went on to state that “we also cannot forget the impact of the conflict in Eastern Europe, with shipments to Russia falling by almost 50%.”

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