According to the official forecast, the production of the world’s largest coffee producer is growing from last year.
Brazilian the food agency estimates that farmers in the country will produce 55.74 million sacks of coffee this year.
Production is thus forecast to grow by 16.8 percent from last year, but production is still lower than expected in the market, according to Reuters.
Brazil is the world’s largest coffee producer, and the country’s supply of green coffee virtually determines the price of green coffee on the world market. A lower-than-expected harvest in Brazil could cause a coffee shortage and keep the price of green coffee at where it has been for ten years.
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Brazilian authorities forecast that production of the popular arabica coffee in Finland will increase by 23 percent this year from last year. 97% of the coffee consumed in Finland is arabica.
Production of the second coffee grade, robusta, is expected to grow by four percent.
Total production is still forecast to be much weaker than in the record year of 2020, when Brazil produced 63 million sacks of coffee.
The forecast of the Brazilian authorities is also clearly lower than that of many investment banks. They predicted the production of more than 60 million coffee bags.
Last year, the Brazilian coffee crop was weakened by the worst drought in more than 90 years in the spring and frost in the summer.
Brazil cultivates more than a third of the world’s coffee production.
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