The final figures for the Brazilian coffee crop 2020 are expected to be below expectations at the beginning of the season. According to the Safras & Mercado consultancy, the final production of the harvest should not meet domestic consumption and exports.
For 2021, the prognosis is still uncertain, with the only certainty that the production volume will be lower due to the biannual cycle of Arabica coffee. The reference number is 60 million bags, an insufficient volume to serve an export of 40 million bags and a domestic consumption of 23 million bags.
Despite the new cycle pointing to a smaller crop in Brazil, the market has not yet priced this fact. For the consultancy, chances are that dollar prices will rise from now on. The more the estimates were below the 60 million bags line, the more potential for gain in quotes. In relation to prices in reais, the consultancy points out that the values will depend on the behavior of the exchange rate next year.
These were the details of the news crop may not meet domestic consumption and exports for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at time24.news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.