After reading the market reports for last week (19– 25 July 2010), there are some interesting notes, about Arabica and Arabica producing countries :
- The political upheaval in Ivory Coast, which lead to a restriction on coffee exports earlier this year, has since the official ban lifted in April, seen this country register improved export figures in the latter two months.
- Contrary to earlier forecasts from the Coffee Board in India that the countries new crop for the forthcoming October 2011 to September 2012 coffee year shall decline to below 5 million bags, they have now forecasted that the new crop shall in fact be 6.71% higher than the past crop, to a total of 5,370,833 bags.
- Nicaragua reported that the countries coffee exports in June were 47% lower than the same month last year, at a total 115,119 bags. The countries cumulative exports for the first nine months of this present October 2010 to September 2011 coffee year marginally below that of the same period in the previous coffee year, at a total 1,303,177 bags. With weather conditions conducive through development, the next biennially bearing larger crop that starts harvest in October forecast to be close to 1.65 million bags.
- The market was shuffling its feet looking a little for direction, probably because of the fact that they are awaiting harvest reports form areas like Columbian, Peru and neighbouring countries