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Brazil Set for Record 2010/11 Coffee Output

Source: Reuters
15/07/2009

New York, July 15 - Brazil, the world's biggest coffee grower, is expected to produce a record 52 million 60-kg bags of robusta and arabica coffee in the 2010/11 crop year, a Reuters poll showed on Wednesday.

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The median estimate of 20 analysts and traders also pegged Brazil's 2009/10 crop at 43 million bags, up from 40 million bags forecast in a similar poll carried out in January 2009.

International Coffee Organization figures show that a record 48.48 million bags was produced in 2002/03.

The raised crop projection for 2009/10, against a backdrop of global economic downturn, is seen pushing prices lower with the median forecast for ICE front-month coffee <KCc1> seen at $1.2425 per lb by the end of 2009, well below $1.3500 forecast in Reuters' January poll.






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