Brazil exports record coffee crop
30 July 1999
Brazil exports record coffee crop
BRAZIL the worlds largest coffee producer, has turned in a bumper harvest – beating the previous record set in 1991/1992 by 5%.
Some 1.58 million bags were exported in June, bringing exports over the previous year to 21.2m bags.
Januarys devaluation of the Real was a key reason for the export increase which has seen Brazils share of the worlds coffee market rise from 21% to 27%.
But the overseas expansion has forced prices down to $111 a bag from $182 a bag in previous years.
The output of Brazils other agricultural products is also likely to increase, according to official sources.
The government IBGE statistics institute expects farmers to record their largest-ever grain harvest this year.
The ministry said production of soya beans has already reached 30.7m tonnes, Brazils second largest crop ever.
It expects corn production of 32.3m tonnes, an increase of 6.8% over last year.