Brazil's Coffee Exports up Nearly 10% in July

Dow Jones
08/12

1530 ET - Exports of coffee from Brazil totaled 3.03 million 60-kg bags in July, up 9.9% from the same time last year, the Brazilian Coffee Exporters Council, otherwise known as Cecafé, says. However, the group adds that year-to-date, coffee shipments out of Brazil were down, totaling 20.9 million bags, a drop-off of 5.9% in volume. Coffee futures on the Intercontinental Exchange are down 0.4% in trading, at $3.128 a pound. Continuous coffee futures are up more than 18% in the past three months, according to FactSet data. Márcio Ferreira, head of Cecafé, says that "the delay in the harvest and the continued logistical bottlenecks in Brazilian ports" accounts for the lower exports year-to-date.

 

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