Coffee exports for the coffee year (2022/2023) totaled 6.14 million bags worth $940.36 million compared to 5.86 million bags worth $877.66 million in the previous coffee year (2021/2022), according to Uganda Coffee Development Authority (UCDA).
UCDA adds that coffee exports in September 2023, amounted to 577,073 60- kilo bags, worth $94.39 million. “This was an increase of 12.76 percent and 30.38 percent in quantity and value respectively compared to the same month last year,” UCDA says in its monthly reporter September 2023.
“The monthly coffee exports performance was higher than the previous year which was seen in Robusta exports. This was partly on account of a good crop harvest in South-western region and the prevailing good prices on the global scene which prompted exporters to release their stocks.”
Outlook for October 2023
UCDA says Coffee exports are projected to be 500,000 bags. “The main harvesting season in Greater Masaka and South-Western regions ended and exporters will draw down on their stocks to fulfil contractual obligations with buyers. They are also positioning strategically for the main harvest north of the equator which has started.”
World coffee production for 2023/24 is forecast to reach 174.3 million bags, 4.3 million bags higher than the previous Year, with higher output in Brazil and Vietnam expected to more than offset reduced production in Indonesia.
Global exports are expected to increase by 5.8 million bags to a record 122.2 million bags higher than 116.4 million bags the previous year, primarily on strong shipments from Brazil.
Global consumption is forecast at 170.2 million bags, with the largest increase in the European Union, the United States of America, and Brazil. Ending stocks are expected to be 31.8 million bags.