The International Coffee Organization projects a record harvest of 153.9 million 60-kilo bags in 2016/17. Arabica is expected to reach 97.3 million bags. Demand is expected to be 155.1 million bags, resulting in a 1.2 million bag deficit.
Exports are significantly ahead of 2016 through July, passing 100 million bags. Colombia doubled exports compared to last year at 11.2 million bags since October 2016, up 11.6%. But in Brazil, July exports fell to 1.75 million bags, the lowest level since February 2004. Shipments from Vietnam were 1.55 million bags, down 30% compared to the same period in 2016.