Tea & coffee stock in News
Hello Readers Expected deficit of 5.2million bags from Brazil (1bag = 60kg) Reasons attributed to the deficit is drought in Brazil and freezing temperatures reported in past one month. Brazil accounts for ~35% of the global coffee production, while Vietnam and Columbia constitute ~18.5% and ~8.5% respectively. India’s share in global coffee production is ~3.0%. Coffee prices have been on a roll in the international market. Brazil, which is by far the largest producer of Coffee, is staring at production losses owing to unfavorable weather conditions. The International Coffee Board made a downward revision in its supply forecasts for the plantation year 2021/22. stocks to watch out for 3 to 4 months time frame