Costa Rica coffee exports dip 43% in November

Credit: REUTERS/JUAN CARLOS ULATE

SAN JOSE, Dec 1 (Reuters) - Costa Rican coffee growers exported 43% fewer beans in November than the same month last year, feeling the effects of the lower 2021/2022 harvest, the country's coffee institute ICAFE said on Thursday.

Costa Rica exported 12,945 60-kilo bags in November, down from the 22,777 bags the previous year and the lowest recorded for the month in five years, the institute said.

Despite posting lower numbers in November, coffee growers reported benefiting from increased export prices. Average prices for November reached $279.50 for each quintal (46-kg bag) placed in port, the institute reported.

Hit by an 8.8% annual drop in production in the 2021/2022 cycle, which runs from October to September, exporters hope to recover from the dip in the current cycle, which is now being harvested.

Costa Rica expects to harvest 1.43 million 60-kilo bags through the 2022/2023 season and to export about 80% of that. The country's coffee season runs on a biannual cycle, meaning its coffee trees alternate years of higher and lower output.

(Reporting by Alvaro Murillo in San Jose; Writing by Kylie Madry; Editing by Sandra Maler)

((Kylie.Madry@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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