Coffee production surplus of 8–10 million bags expected

Global coffee production is expected to exceed consumption by 8–10 million bags in the current season.

TodayPress TV reports that Marcio Ferreira, chairman of the Brazilian Coffee Exporters Council, told RIA Novosti.

According to him, a surplus of approximately 10 million bags is expected worldwide in the current coffee season, taking production and consumption into account. However, amid declining yields, including in Brazil, this figure could fall to around 8 million bags.

Nevertheless, an abundance of coffee does not mean that it will rapidly enter the global market. According to Ferreira, the financial position of Brazilian producers allows them not to rush to sell the new crop and to wait for more favorable prices.