Costa Rica coffee exports jump in May, logistics problems persist

Credit: REUTERS/Juan Carlos Ulate

SAN JOSE, June 2 (Reuters) - Costa Rican coffee farmers exported 39% more beans in May than in the same month a year ago, the coffee institute ICAFE said on Friday.

The Central American country exported 140,142 60-kg bags in May, a bump of 39,488 more bags than in May 2022, according to official data, making up ground after logistics problems early in the year dragged down shipments.

May's numbers bring total exports during the first eight months of the current coffee season to 624,271 bags, or about even with exports at the same point in the previous season.

The coffee harvest in mostly-arabica growing Central America and Mexico starts in October and ends the following September.

Costa Rican coffee producers expect exports to keep growing this season, saying that last season's 14.4% bigger harvest compared to the previous one.

But continued growth in coffee exports will require a solution to a boat and container shortage that has limited shipments, according to an ICAFE official.

Costa Rica's high-quality arabica coffee beans are generally priced at a premium, and currently show positive differentials in relation to international averages.

ICAFE said it expects a $334 premium per 60-kg bag this year.

(Reporting by Alvaro Murillo; editing by Grant McCool)

((Brendan.OBoyle@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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