NEW YORK (Reuters) – The amount of green coffee stored at ports in the United States, the world’s biggest consumer of the beverage, rose by 97,125 60-kilogram bags at the end of May, surpassing 6 million bags, data from the Green Coffee Association (GCA) showed. ) on Wednesday.
It was the second consecutive monthly rise in inventories, which had previously been falling every month and hit a one-year low in late March, amid a global supply squeeze after weather problems crippled crops in producing countries.
The increase last month still leaves inventories at a relatively low level, far from the volumes close to 7.5 million bags seen in 2019, when the global market had better supply levels.
GCA data includes both coffee in ICE exchange warehouses and volumes held by other market participants at US ports.
Meanwhile, ICE-certified inventories have been falling to a 22-year low.
The biggest increase was in Houston, while Baltimore and South Carolina saw the biggest decreases.
(By Marcelo Teixeira)
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