Dec. 16 (Bloomberg) -- Global coffee production will drop to 133.8 million bags in the year that started Oct. 1, the U.S. Department of Agriculture said.
The forecast is down from output of 136.38 million bags a year earlier and a June estimate of 135.05 million, the USDA said in a report on its website. A bag weighs 60 kilograms, or 132 pounds.
The lowered projection means that demand would exceed production. The agency forecasts consumption at 133.86 million bags, little changed from 133.96 million estimated in June. Ending stocks would be 23.98 million bags, the lowest since the 2000-2001 season, the USDA said.
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