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Brazilian coffee exports will drop 3% in 2022/2023, according to Safras

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SAO PAULO, March 23 (Reuters) – Brazil’s coffee exports will reach 39.25 million 60-kg bags in the 2022/2023 season, 3% more than in the previous cycle, as the country enters the “current year” of the half-year production cycle of Arabica, projected on Wednesday by the consulting firm Safras & Mercado.

The volume would reflect a recovery from the 2021/2022 season, when shipments fell, and 18% from a year earlier after Brazil’s crop was hit by drought and frost, the consultancy said.

Safras expects the coffee crop in Brazil – the world’s No. 1 producer and exporter – to reach 61.1 million bags in 2022/2023, up 8% year-on-year but still 12% below the record seen in 2019/2020.

The agricultural season for coffee runs from July to June.

“We see limited supply growth in Brazil, which would not allow for a large global surplus. Price corrections also tend to remain in a limited range,” Safras analyst Gil Barabach said.

Brazil’s ending stock is projected at 2.93 million in 2022/2023, and 9% more in the previous period.

(Reporting by Roberto Samora; edited by Gabriel Araujo. Edited in Spanish by Marion Giraldo)

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