Colombia’s Coffee Exports At Lowest Level Since 2012 for August
Colombia’s Coffee Exports At Lowest Level Since 2012 for August
Coffee Network (Bogota)- Colombian coffee exports in August fell by 6.4% on year at 816,755 60-kg bags. This is the lowest figure for the reference month since 2012 when 582,994 bags were exported, according to a report by the Colombian coffee growers federation.
The value of exports was US$228 million, a reduction of 18.6% compared to the estimated data for August 2022. This behavior was a product of the decrease in the volume exported compared to the previous year, and the fall in international coffee prices, FNC added.
A coffee trader has said Colombian coffee exports are also falling because of the collapse of international demand.
In Colombia, the world’s third largest coffee producer, green coffee represented 91.3% of total coffee exports in August, far surpassing the 8.7% of industrialized coffees. Within the latter, the most important type of coffee was freeze-dried, which represented 3.4% of total exports, followed by soluble coffee with a share of 2.6%.
The three main export destinations were the United States, China and Germany, the first of these countries being the most important, with a 41.5% share of total exports. It is also highlighted that the five main destinations presented negative variations compared to the previous year, with the most pronounced falls being those of Japan (-28.3%) and Germany (-15.9%). On the other hand, within the top 10, China presents the highest positive variation with an exported volume 79.6% higher than that registered in August 2022.
Regarding the destination ports, in August, the main port was New York, which also maintains its first position so far in 2023.
In Colombia, Buenaventura remains the main shipping port for coffee exports with a share of 65.7% in the total exported, followed by Cartagena and Santa Marta, which in together they represent 33.8% of exports.
12 month period
In the 12-month period, the total volume of exports fell 15.1% compared to the period Sep-21/Aug-22 to 10.307 million bags.
Regarding the types of coffee, green coffee exports in the 12-month fell 15.4% on year to 9.389 million bags, while in the industrialized group, the positive variation of the extracts (0.7%) and the negative variation of the solubles and freeze-dried (-12.3%). The industrialized group as a whole presented a negative variation of 11.6% to 920,777 bags in the 12-month period compared with 1.041 million in the same period last year.
Accumulated Coffee Year
For the eleventh month of the coffee year, accumulated exports were 14.1% lower than those reported in the same period of coffee year 21/22 to 9.49 million bags, being the first time since coffee year 2012/13 that the accumulated fell below the 10 million mark. It is highlighted that all types of coffee presented negative variations compared to the same period of the 2021/22 coffee year, with roasted and ground coffees presenting the largest drop with a 17.0% reduction in volume.
Prices
The total average price of coffee reported a slight drop in August 2023 compared to the previous year, standing at 210.8¢/lb. There was a moderate increase in the average price of some types of industrialized coffee such as roasted and freeze-dried coffee, which increased their price around 50¢/lb and 10¢/lb respectively compared to August 2022. On the other hand, green coffee presented a drop of 16¢/lb compared to the same period last year, FNC said.
Exports by marker player
Of the 816,755 60kg bags of coffee exported in August, 15.4% were exported by the Federation, and 691,288 bags were exported by individuals (84.6%). In the month, Federation’s exports rose 1.5% compared to August 2022 while individuals suffered a drop of 7.7%. Regarding the estimated value, it is observed that Federation exports were close to USD $42 million, being 14.5% lower than their value a year ago, while for individuals there was a drop of 19.4%.
So far in 2023, exports from both the Federation and individuals have fallen, this as a consequence of the drop in production due to adverse weather conditions for cultivation that have lasted since last year. Regarding the estimated value of exports in the current year, aligned with the drop in volume, it decreased for both types of exporters.
In the accumulated 12 months, it is observed that exports fell for both types of exporters compared to the same period in 2022. Exports from the Federation fell by 15.9% and those from individuals fell by 14.9%.
By Diana Delgado
