LatinNews Daily - 13 February 2023

In brief: Brazil’s coffee exports drop in January

* Brazil’s national council of coffee exporters (Cecafé) has released its latest monthly report, stating that 2.84m sacks of coffee (one sack = 60kg) were exported in January – a 16.8% drop compared with January 2022. The monthly export revenue raised was US$612.8m, down 17.8% in year-on-year terms. The January 2023 export volume was also lower than the 3.19m sacks exported the previous month. Cecafé president Márcio Ferreira pointed to several factors for the lower monthly export volume and revenue, including “strong climatic adversities” in recent years, importers deciding to “postpone their purchases” which he said was natural behaviour during the low season “especially after two years of smaller harvests”, and the decline in international prices which he said have been decreasing since October last year, with the average price per sack now 1.2% lower than in January 2022. The US was the primary export destination for Brazilian coffee, marking 18% of total exports, although the 512,402 sacks shipped to the US this January was down 30.75% on the same month in 2022.

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