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Coffee Geography Magazine is a Coffee portal with highly informative, upbeat and inspirational articles for people who are in the coffee industry. We are committed to the success and growth of the global coffee industry.

CGM provides up to the minute data to the market makers.

Chief Editor  

editor@coffeegeography.com

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Coffee prices on Tuesday May 21st surged to 3-week highs and closed sharply higher. Concerns that excessive dryness in Brazil and Vietnam will damage coffee crops and curb global production have sparked fund buying of coffee futures. Somar Meteorologia reported Monday that Brazil's Minas Gerais region received no rainfall or 0% of the historical average in the past week, the fourth consecutive week the area has received no rainfall. Minas Gerais accounts for about 30% of Brazil's arabica crop. Last Monday, Vietnam's National Weather Agency said rainfall in Vietnam's Central Highland, the main coffee-growing region, totaled 195.6 mm in the ten days from May 1, 41% below the long-term average. Tight robusta coffee supplies from Vietnam, the world's largest producer of robusta coffee beans, are a bullish factor. On March 26, Vietnam's agriculture department projected that Vietnam's coffee production in the 2023/24 crop year would drop by -20% to 1.472 MMT, the smallest crop in four years, due to drought. Also, the Vietnam Coffee Association said that Vietnam's 2023/24 coffee exports would drop -20% y/y to 1.336 MMT. Vietnam's General Department of Customs reported last Friday that Vietnam's April coffee exports fell -19.5% m/m and -7% y/y to 152,073 MT. There has recently been some bearish coffee export news. The International Coffee Organization (ICO) reported on May 3 that global Mar coffee exports rose +8.1% y/y to 12.99 million bags, and Oct-Mar global coffee exports were up +10.4% y/y at 69.16 million bags. Also, Cecafe reported last Monday that Brazil's April green coffee exports surged +61% y/y to 3.9 million bags. Brazil's exporter group Comexim, on February 1, raised its Brazil 2023/24 coffee export estimate to 44.9 million bags from a previous estimate of 41.5 million bags. Brazil is the world's largest producer of arabica coffee beans. A rebound in ICE coffee inventories from historically low levels is negative for prices. ICE-monitored robusta coffee inventories on February 21 fell to a record low of 1,958 lots, although they recovered to a 9-1/4 month high Tuesday of 4,466 lots. Also, ICE-monitored arabica coffee inventories fell to a 24-year low of 224,066 bags on November 30, but they recovered to a 14-month high Monday of 767,388 bags.

Arabica coffee is the world benchmark for coffee futures contracts that trade on the Inter Continental Exchange (ICE).

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Ricardo Lopez of Bellwether Coffee describes the newly introduced Shop Roaster
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Illycaffè recertified the B Corp certification
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Lawmakers in Hawaii passed measures creating standards for coffee, the state’s high-value crop.
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Vietnam, the top producer of Robusta, increased irrigation amid the shortage of rain affecting coffee yield
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The Brazilian Real/USD Vs the Coffee Price

Coffee prices on Tuesday May 21st surged to 3-week highs and closed sharply higher. Concerns that excessive dryness in Brazil and Vietnam will damage coffee crops and curb global production have sparked fund buying of coffee futures. Somar Meteorologia reported Monday that Brazil's Minas Gerais region received no rainfall or 0% of the historical average in the past week, the fourth consecutive week the area has received no rainfall. Minas Gerais accounts for about 30% of Brazil's arabica crop. Last Monday, Vietnam's National Weather Agency said rainfall in Vietnam's Central Highland, the main coffee-growing region, totaled 195.6 mm in the ten days from May 1, 41% below the long-term average. Tight robusta coffee supplies from Vietnam, the world's largest producer of robusta coffee beans, are a bullish factor. On March 26, Vietnam's agriculture department projected that Vietnam's coffee production in the 2023/24 crop year would drop by -20% to 1.472 MMT, the smallest crop in four years, due to drought. Also, the Vietnam Coffee Association said that Vietnam's 2023/24 coffee exports would drop -20% y/y to 1.336 MMT. Vietnam's General Department of Customs reported last Friday that Vietnam's April coffee exports fell -19.5% m/m and -7% y/y to 152,073 MT. There has recently been some bearish coffee export news. The International Coffee Organization (ICO) reported on May 3 that global Mar coffee exports rose +8.1% y/y to 12.99 million bags, and Oct-Mar global coffee exports were up +10.4% y/y at 69.16 million bags. Also, Cecafe reported last Monday that Brazil's April green coffee exports surged +61% y/y to 3.9 million bags. Brazil's exporter group Comexim, on February 1, raised its Brazil 2023/24 coffee export estimate to 44.9 million bags from a previous estimate of 41.5 million bags. Brazil is the world's largest producer of arabica coffee beans. A rebound in ICE coffee inventories from historically low levels is negative for prices. ICE-monitored robusta coffee inventories on February 21 fell to a record low of 1,958 lots, although they recovered to a 9-1/4 month high Tuesday of 4,466 lots. Also, ICE-monitored arabica coffee inventories fell to a 24-year low of 224,066 bags on November 30, but they recovered to a 14-month high Monday of 767,388 bags...The Brazilian Real is one of the driving factors in the global coffee pricing.

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