NEW YORK, US – Green coffee stocks in U.S. ports increased by almost 300,000 bags during the month of July to over 6 million bags, the highest level since October 2020, the Green Coffee Association (GCA) reported in its monthly figures. Inventories rose by of 294,885 bags to 6,074,346 bags. This is also the highest month on month increase since May 2020. Of this total, 128,985 bags were registered in the U.S. Certified coffee stock warehouses at the time of reporting. Higher stocks are found in the ports of New York, South Carolina and San Francisco.
The overall Green Coffee stocks reported, do not include the in-transit bulk container coffees or the onsite roaster inventories, which with an approximate combined U.S.A. and Canadian weekly consumption that is supported by these stocks of approximately 585,000 bags per week, would conservatively have been at least 1.2 million bags.
This new level of stocks reported at the end of July 2021, is still somewhat close to the lowest point that has been seen since June 2015, when stocks were reported at 5.51 million bags, says I. & M. Smith in its daily report.
The current levels of coffee stocks, which include the certified coffee stocks that are held in certified warehouses and registered to the New York exchange, would equate to more than eleven weeks of roasting activity, which most would consider to be a safe reserve and are likewise still viewed to be well above the historic low which was registered by the U.S.A. Green Coffee Association in 2011 at a total 4 million bags, points out the same source.
In other news, the Certified washed Arabica coffee stocks held against the New York exchange were seen to increase by 4,702 bags yesterday, to register these stocks at 2,165,748 bags as August 26th, 2021, with 94.04% of these certified stocks being held in Europe at a total of 2,036,763 bags and the remaining 5.96% being held in the USA at a total 128,985 bags.
Of this, a total 1,145,541 bags, or 52.89% of the coffees registered and stored in consumer country certified warehouses of the exchange, are Brazilian washed arabica, and a further 39.42% of these certified coffees, originates from Honduras.
