South America Sees 12.4% Rise in Coffee Shipments, Led by Brazil

The International Coffee Organization (ICO) in London reports a significant surge in Brazilian coffee exports. The country’s coffee shipments increased by 13.2% in October 2024, reaching 4.94 million bags.

This marks the highest export volume for Brazil since November 2020. Brazil’s coffee industry demonstrates remarkable resilience and growth. The country’s exports drove South America’s overall coffee shipments up by 12.4% to 6.69 million bags in October 2024.

This regional performance set a new record, surpassing the previous high of 6.57 million bags in November 2020. Global coffee prices also experienced a substantial uptick.

The ICO Composite Indicator Price (CIP) averaged 270.72 US cents per pound in November 2024. This represents an 8% increase from October and a staggering 67.6% rise compared to November 2023.

World coffee consumption reached 177 million 60kg bags in the twelve months from October 2023 to September 2024. This slight increase of 2.25% occurred alongside a 5.82% growth in global production, which rose from 168.2 million to 178 million bags.

Arabica coffee dominated global production, accounting for 57.41% of the total. Robusta and Conilon varieties made up the remaining 42.59%. South America led production with 50.17% of the global share, followed by Asia and Oceania at 28.03%.

Coffee-producing countries consumed 31.92% of global production, while importing nations accounted for 68.08%. Europe emerged as the top consumer, drinking 30.34% of the world’s coffee, followed by Asia and Oceania at 25.82%.

These figures highlight the coffee industry’s dynamic nature and Brazil’s pivotal role in the global market. The country’s strong export performance, coupled with rising prices, signals a robust period for coffee producers and traders alike.