LatinNews Daily - 16 January 2024

*Brazil’s national council of coffee exporters (Cecafé) has released the annual figures for coffee exports in 2023, registering 39.25m sacks of coffee (one sack = 60kg). This marks a 0.4% decrease compared to the annual total for 2022, when 39.41m sacks were exported. Although annual export volume showed only a slight variation, the total export value came to US$8.04bn, down 13% from the previous year. The monthly export volume in December 2023 came to 4.12m sacks, up 27.1% year-on-year, but the monthly export value (US$800.1m) dropped by 11.6% compared to December 2022. In the first six months of the 2023/2024 coffee harvest cycle (July-December 2023), the accumulated export volume came to 22.99m sacks, up 18.5% compared to the same period in 2022, but the export value showed a 2.2% yearly decrease, registering US$4.49bn. In a press release, Cecafé attributed the annual drop in exports to low yields in 2021 and 2022, caused by “climatic adversities”, as well as “logistical hinderances” throughout 2023.