LONDON – Coffee prices were volatile again over the course of September, mostly reacting to weather news from Brazil. Daily prices fell initially but were rising towards the end of the month as reports of dryness in Brazil exacerbated concerns over next year’s crop. A new crop survey from Conab gave a revised production estimate of 45.14 million bags for crop year 2014/15, 570,000 bags higher than the previous estimate. Crop year 2013/14 has now finished in all exporting countries, with total production estimated at 145.2 million bags, essentially unchanged on the previous year. World consumption was also around 145 million bags in calendar year 2013, leaving the market reasonably balanced, but lower production expected in 2014/15 will likely result in a global deficit next year.
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ICO REPORT – Coffee season 2013/14 finishes in balance but deficit expected next year
