World coffee production for 2020/21

World coffee production for 2020/21 is forecast 9.1 million bags (60 kilograms) higher than the previous year to a record 176.1 million. Brazil is forecast to account for most of the gain as its Arabica crop enters the on-year of the biennial production cycle and Robusta reaches record output. World exports are forecast higher, largely on the strength of Brazil. Global ending stocks are expected to jump to a 6-year high as production outpaces consumption. Coffee prices, as measured by the International Coffee Organization (ICO) monthly composite price index, retreated in the last few months to average $1.04 per pound in May 2020.