MILAN – Coffee exports from Honduras, the largest coffee-producing country in Central America, rose +37% on year in June to 769,471 60-kg bags, according to data from the National Coffee Institute IHCAFE. Exports were boosted by stronger market demand as well as delayed shipments from the previous month, an industry executive said on Monday.
Coffee exports during the first nine months of the current 2022/23 season totalled 4.35 million bags, an almost 12% increase from the equivalent period of 2021/22. The country plan to export 5.5 million bags of coffee this season, from 4.7 million in the previous cycle. Honduras is the largest supplier to Ice Arabica certified stocks.
In other news, Brazil had reaped 45% of the 2023/24 crop, as of June 27th, according to SAFRAS’ weekly monitoring. This is a 6% advance over the previous week. The drier climate speeded up the harvest in most coffee-growing regions.
The Arabica harvest was 35% completed, against 31% as of the same date last year. The conillon harvest is 62% complete, above 54% last year, but still below the five-year average of 67%.
Coffee futures prices rose on both market in the first session of July. In New York, ICE Arabica’s most active contract for September delivery closed up 150 points to 160.50 cents per lb, from a 5-month low of 159 cents reached last Friday.
The latest Commitment of Traders report from the New York market has seen the Non-Commercial Speculative sector switch their net long position to a net short position of 3,939 lots over the week of trade leading to June 27th.
ICE Arabica certified stock rose slightly on Monday to 544,595 bags, from a 7-month low of 541,139 bags on June 21st.
September ICE Robusta coffee rose $47 to $2,538, from a one-and-a-half low of 2,491 on June 30th. ICE-monitored Robusta coffee inventories last Monday fell to a new 3-1/2 month low of 7,335 lots but rebounded slightly to 7,395 lots last Thursday.
