Daily Coffee Report 8/10/26
Daily coffee report
StoneX Coffee Team
- Coffee
Honduras Coffee Exports Fell 16% As of June 15
By: Diana Delgado, Contractor
Honduras Coffee Exports Fell 16% As of June 15
Coffee Network (Bogota)- Honduras’s coffee exports fell 6% as of June 15 amid lower supply disrupted by two hurricanes in 2020 and lower labour force to pick the beans amid an ongoing Covid-19 pandemic.
The Central American nation, the world’s fifth-largest coffee producing country, shipped 4.23 million bags of 60-kg in the coffee year October 2020 through June 15. 2021, down from 4.64 million bags in the same period last year, according to most recent figures from the coffee institute IHCAFE.
Coffee revenues jumped by 11% to US$838.6 million as of June 15, up from US$752.4 million because of higher coffee prices. The average price for Honduran coffee climbed to $148.87 per quintal or 46kg, up 18% from $125.74 in the same period last year.
The largest buyer of Honduras coffee is Germany, which bought 1.12 million bags in coffee year through June 15, followed by the US, which purchased 1.018 million bags. Belgium was next with 423,063 60-kg bags, the IHCAfe data showed.
Coffee sale contracts totalled 5.25 million bags as of June 15, up 8% over the same period last year.
Honduras coffee production is forecast to modestly decline in the coffee year 2021-2022 to 5.5 million bags (60 kg each), a 12% decrease from the previous year, the United States Department of Agriculture (USDA) said.
A higher incidence of leaf rust and other diseases is expected to reduce coffee production directly by reducing yields and indirectly by rendering more plants unable to produce.
The USDA forecast is still lower than the 6.2 million bags of 60-kg estimated by the Honduras coffee association IHCAFE, which is 0.7% below the previous forecast.
In addition, Covid-19 is also reducing the supply of Honduras coffee. Biosafety protocols that include 6 ft distancing for plantation maintenance and harvest activities are expected to remain in place. Also, 2183 km of roads damaged by hurricanes Eta and Iota are still pending reconstruction or repairs. As a result, the government has extended the Coffee Bonus program with additional US $12.5 million until December 2021, in an effort to provide access to fertilizer for over 91,500 small and medium farmers (87% of total farmers).
The Honduras government is providing fertilizers to over 91,500 small and medium coffee producers. These producers account for 87% of all Honduran producers and contribute 84% of Honduras’s total coffee production. By providing fertilizer, the government aims to increase overall coffee production, which contributes five percent of the gross domestic product (GDP) and 30% of the agricultural GDP.
Meanwhile, Honduras forecasts that the 2021/22 exports will be 5 million bags, an 11% drop from the updated MY2020/21 estimate of 5.6 million bags and a return to MY2019/20 export levels.
The COVID-19 pandemic and Hurricanes Eta and Iota did not significantly impact MY 2020/21 coffee production directly in Honduras. However, both phenomena had a significant impact on trade and are expected to also impact MY 2021/22 coffee exports.
A decrease in production due to forecasted favorable conditions for leaf rust is expected to be the main cause for the export reduction.
Meanwhile, ending stocks estimate for MY2020/21 has been adjusted to 1.113 million bags of coffee. Stocks are held by 70 exporters and roasters from the private sector.
By Diana Delgado
- Coffee
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