Coffee Market Will Have 1 Million-Bag Deficit, Thompson Says
Global coffee consumption will outpace supplies by 1 million bags in the 2011-12 season starting next month, according to researcher CoffeeNetwork.
Bean production will be 135 million bags, while usage will come to 136 million bags, Andrea Thompson, head of research and analysis at CoffeeNetwork in Belfast, Northern Ireland, said today at a conference in the Belgian city of Antwerp.
Brazil, the world’s largest grower and exporter, will produce 45 million to 46 million bags amid the lower-yielding half of a two-year cycle for trees, she said. That compares to a forecast of 43.1 million bags today from the Brazilian ministry of agriculture’s crop-forecasting agency, known as Conab.
Vietnam will produce 21 million bags of coffee in the 2011- 12 season, Thompson estimated. The country ranks second overall among producers and is the top grower of the robusta variety.
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