Bing chat was used to summarize the Coffee Field Notes 19 July 2023 from Falcon Coffee. The notes provide a detailed picture of the coffee market situation. Furthermore, it concentrates on Latin American and African countries as of July 2023. They report on the harvest progress, production quality and volume. The notes also cover demand and supply. Included in the notes are highlights to some of the factors that affect coffee trade, such as weather conditions, currency fluctuations, oil prices, and certification standards.
Coffee Field Notes 19 July 2023 Summary
A summary of the Coffee Field Notes 19 July 2023 from Falcon:
- Brazil: Producers express hesitance in selling their products at reduced prices, leading to below-average sales. However, the ongoing harvest is showing positive progress.
- Colombia: Production has experienced a modest increase, while exports have witnessed a decline. Furthermore, the peso has been strengthening and differentials remain stable.
- Honduras: The demand is experiencing a significant surge, as the differentials steadily decline, resulting in a delay of the harvest. Nevertheless, we assure you that the weather is gradually stabilizing, thus restoring normalcy to the situation.
- Nicaragua: Harvest is peaking. Quality and yields are improving. Prices and differentials are declining, demand is picking up for certified coffees.
- Peru: The harvest in Peru is ongoing, with improving quality and volume, while prices and differentials are aligning, and parchment is being held at farm level.
- Rwanda: Shipments are moving smoothly, container availability is good, ports are not congested.
- Ethiopia: In Ethiopia, rains are causing high moisture content. Exporters are lowering offers to meet pressure from banks and government, carryover crops are expected, early harvesting has started, container availability is challenging, and Djibouti road is in good condition.
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