LatinNews Daily - 10 March 2023

In brief: Brazil’s coffee exports slump

* Brazil’s national council of coffee exporters (Cecafé) has released its latest monthly report, putting February’s export volume at 2.39m sacks of coffee (one sack = 60kg), which represents a 33.3% drop compared to February 2022. Export revenue also decreased in year-on-year terms to total US$505.9m (-38.5%), which Cecafé has partly attributed to the 7.9% decrease in the average price for a sack of coffee since February 2022. The report also highlighted the accumulated export volume for January and February 2023 which totalled 5.23m sacks, representing a 25.4% decrease from the 7.0m sacks exported in the first two months of 2022. The US remained the top export destination for Brazilian coffee, with a total of 978,334 sacks exported in January and February this year, down 29.2% in year-on-year terms. According to Cecafé’s president, Márcio Ferreira, the yearly drop in shipments was caused by factors including climate-related difficulties in Brazil’s main coffee-producing regions and the wider context of the international market.

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