StonexHero

Colombia’s 2023 Coffee Production Increases 2% to 11.35 Million Bags

StonexHero

Colombia’s 2023 Coffee Production Increases 2% to 11.35 Million Bags

 
Diana Delgado
Latin American correspondent
diana.delgado@stonex.com

Colombia’s 2023 Coffee Production Increases 2.2% to 11.35 Million Bags

Bogota (Coffee Network)- Coffee production at Colombia, the world’s third largest coffee producer, totaled 11.35 million bags of 60-kg in 2023, up 2.2% from the 11.1 million bags produced in 2022, the coffee growers federation said.

This marks the first year of production growth after Colombia experienced three consecutive years of falling output due to 32-months of torrential rains associated to the La Niña weather phenomenon that pelted this Andean country

“Coffee production in Colombia returns to the path of growth, breaking a three-year declining trend, “ the general manager of the coffee growers federation German Bahamon said.

In December, coffee production increased 24%, which implies that Colombia produced 1.216 million bags, up from 981,000 bags in the same period in 2022.

The December figure is the third consecutive month with rises, marking a turning point in production as the main harvest begins with output recovering after a dry spell in February onwards marked the end of 32 months of torrential rains.

Higher output was possible thanks to favorable weather around February- March 2023 that allowed good flowerings to take place as downpours receded  with the beginning of the country’s second dry season in June-September.

Colombia’s coffee production has fallen from the 14 million mark, since 2020 when output totaled 13.9 million, the first time in six years when output fell below the 14 million threshold.

Output was even lower than 12 million bags in 2022. Last year, Colombia produced 11.1 million bags.  

Colombia was expected to produce 11.4 million bags of 60-kg in the calendar year 2023, German Bahamon, general manager of the coffee growers federation told reporters on the sidelines of the 92th annual coffee congress last week.

Exports jump

In December 2023, coffee exports jumped by 44% in the last month and by 4% in the last 12 months.

Colombia exported 1.483 million bags in December, compared with 1.030 million in the same period last year.

In the 12-month period, coffee exports increased 4% to 11.860 million compared with 11.404 million bags in the same period last year.

In contrast, imports during the month of December 2023 decreased by -34% compared to 2022.

By Diana Delgado

Related tags: Coffee

The StoneX Group Inc. group of companies provides financial services worldwide through its subsidiaries, including physical commodities, securities, exchange-traded and over-the-counter derivatives, risk management, global payments and foreign exchange products in accordance with applicable law in the jurisdictions where services are provided. References to over-the-counter (“OTC”) products or swaps are made on behalf of StoneX Markets LLC (“SXM”), a member of the National Futures Association (“NFA”) and provisionally registered with the U.S. Commodity Futures Trading Commission (“CFTC”) as a swap dealer. SXM’s products are designed only for individuals or firms who qualify under CFTC rules as an ‘Eligible Contract Participant’ (“ECP”) and who have been accepted as customers of SXM. StoneX Financial Inc. (“SFI”) is a member of FINRA/NFA/SIPC and registered with the MSRB. SFI is registered with the U.S. Securities and Exchange Commission (“SEC”) as a Broker-Dealer and with the CFTC as a Futures Commission Merchant and Commodity Trading Adviser. References to securities trading are made on behalf of the BD Division of SFI and are intended only for an audience of institutional clients as defined by FINRA Rule 4512(c). References to exchange-traded futures and options are made on behalf of the FCM Division of SFI . StoneX is a trading name of StoneX Financial Ltd (“SFL”). SFL is registered in England and Wales, Company No. 5616586. SFL is authorized and regulated by the Financial Conduct Authority [FRN 446717] to provide to professional and eligible customers including: arrangement, execution and, where required, clearing derivative transactions in exchange traded futures and options. SFL is also authorised to engage in the arrangement and execution of transactions in certain OTC products, certain securities trading, precious metals trading and payment services to eligible customers. SFL is authorised & regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 for the provision of payment services. SFL is a category 1 ring-dealing member of the London Metal Exchange. In addition SFL also engages in other physically delivered commodities business and other general business activities which are unregulated and not required to be authorised by the Financial Conduct Authority. StoneX Group Inc. acts as agent for SFL in New York with respect to its payments services business. StoneX APAC Pte. Ltd. acts as agent for SFL in Singapore with respect to its payments services business. ‘StoneX’ is the trade name used by StoneX Group Inc. and all its associated entities and subsidiaries.

 

Trading swaps and over-the-counter derivatives, exchange-traded derivatives and options and securities involves substantial risk and is not suitable for all investors. Past performance of any futures or option is not indicative of future success. Indicators are not a trading system and are not published as a specific trade recommendation. The information herein is not a recommendation to trade nor investment research or an offer to buy or sell any derivative or security. It does not take into account your particular investment objectives, financial situation or needs and does not create a binding obligation on any of the StoneX group of companies to enter into any transaction with you. You are advised to perform an independent investigation of any transaction to determine whether any transaction is suitable for you. No part of this material may be copied, photocopied or duplicated in any form by any means or redistributed without the prior written consent of StoneX Group Inc.

 

© 2024 StoneX Group Inc. All Rights Reserved.



Discover more insights

Our subscribers have access to comprehensive market analysis from StoneX spanning commodities, equities, currencies and more.
See why StoneX is a partner of choice
StoneX: We open markets

Our market expertise, advanced platforms, global reach, culture of full transparency and commitment to our clients’ success all set us apart in the financial marketplace.

  • Partnership icon
    Globality

    With access to 40+ derivatives exchanges, 180+ foreign exchange markets, nearly every global securities marketplace and numerous bi-lateral liquidity venues, StoneX’s digital network and deep relationships can take clients anywhere they want to go.

  • Price tag
    Transparency

    As a publicly traded company meeting the highest standards of regulatory compliance in the markets we serve; our financials and record of accomplishment are matters of public record. StoneX’s commitment to “doing the right thing over the easy thing” sets us apart in the industry and helps us build respect, client trust and new partnerships.

  • PC Monitor Blue
    Expertise

    From our proprietary Market Intelligence platform, to “boots on the ground” expertise from award-winning traders and professionals, we connect our clients directly to actionable insights they can use to make more informed decisions and achieve their goals in the global markets.

+
!

By submitting this form, you are sending StoneX Group Inc. and its subsidiaries your personal information to be used for marketing purposes. View our  Privacy notice  to learn more.

+
!

By submitting this form, you are sending StoneX Group Inc. and its subsidiaries your personal information to be used for marketing purposes. View our  Privacy notice  to learn more.