Coffee Bean Origin News
Green Coffee Bean trading started the week quietly, with origin partners telling us that little business was conducted, differentials across the board remained steady and NYC drifted slightly down. Early crops in Central America and Colombia slowed with late (normal) rains throughout the region. As the rainy season comes to an end in late October / early November, and the skies open to the sun, the harvest will move quickly peaking in most areas from late November through to early January. Early shipments of lower altitude coffees will start in December. The higher quality coffees from central America will ship in March and Arrive in May. Rains continued in Brazil, albeit at a lower than average annual volume. This has eased concerns related to low soil moisture and its potential impact on flowering and the 2021 crop.
Colombia
The main crop (Northern and Central regions) slowed down last week due to the rain. Last week we mentioned comments from one supplier of the short crop in the Coffee Axis. We have been unable to verify this information, and it is not clear if the crop is delayed or down. Differentials remain steady, offers remain relatively tight and there is little room to negotiate.
Central America
Most regions report good rains throughout the coffee belts. This has slowed down the early harvest. Most of the forward business continues to be focused on certified organic coffees.
Nicaragua
Little change from last week’s report. The crop is looking very good in those areas where producers continued to manage their plantations. There are reports of some abandoned farms, but no data to quantify if there will be any real impact. Early reports indicate there will be sufficient labor for the harvest with most farms and mills installing measures to control the spread of Covid. There is a wide range of differentials, although we hear the larger farms are reluctant to offer at this point.
Guatemala
Little change from last week’s report. Whilst the crop looks good, concerns are growing around access to sufficient harvest labor and control of migration in and out of local communities. The Guatemalan / Honduran border remains closed, potentially slowing down migration between the two countries are harvest labor seeks work from one farm to another farm.
Honduras
Little change from last week’s report. Producers are optimistic that the crop will be good. We hear from our origin partners that both Europe and Asia have been putting business on the books for early shipments of HG coffees. North America continues to be sluggish, except for organic coffees.
Ethiopia
The harvest has started, with the southwest now flowing quickly.
Indonesia
Little change from last week’s report. The winter crop flow is picking up pick up. Quality is very good and there is plenty of coffee available and not much demand. After three years of high prices, Sumatra prices are dropping back to levels that we have not seen for a while. Fairtrade organic coffee prices are getting close to FLO min price. Origin suppliers are keen to kick start business and open to bids.
Info provided by Intercontinental Coffee Trading