Coffee exports to Arab countries up 29%
Revenue from foreign sales widened although volume went down. Lebanon, Syria and Jordan were the top Arab buyers of Brazilian coffee.
São Paulo – Revenue from Brazilian coffee exports to Arab countries increased by 29.3% year-on-year in the first quarter of 2017, the Brazilian Coffee Exporters Council (Cecafé) reported this Tuesday (11).
Q1 revenue reached USD 57.8 million, up from USD 44.7 million in Q1 2016. Export volume declined by 1%, to 335,800 60 kg bags in the first three months of this year from 340,600 from January to March 2016.
Arab countries accounted for 4.2% of total Q1 coffee exports from Brazil, and for 4.4% of total revenue. Coffee prices improved this year from the last one, pushing up revenue.
The leading single Arab buyer of Brazilian coffee was Lebanon, at USD 18.4 million, followed by Syria at USD 12.4 million, Jordan at USD 7.2 million, Saudi Arabia at USD 5 million and the United Arab Emirates at USD 3.9 million.
Arab buyers of Brazilian coffee, albeit in smaller amounts, also included Algeria, Libya, Djibouti, Egypt, Sudan, Morocco, Qatar, Kuwait, Oman, Iraq, Bahrain and Yemen.
Lebanon, the top Arab buyer, ranked 14th overall. The top buyer overall was the United States, followed by Germany, Italy, Japan, Belgium, Russia, Turkey, France, Canada, United Kingdom, Spain, Sweden, and South Korea. The 15th biggest buyer was Finland.
Total Q1 coffee export revenue increased by 6.8% to USD 1.3 billion, with amount dropping by 10.6% to 7.9 million bags. In March alone, revenue increased by 4.5% to USD 473.4 million, with amount down 12.7% to 2.7 million bags.
“Although the exports result in March was weaker than a year ago, revenue was higher,” said Cecafé chairman Nelson Carvalhaes in a press release. He also stressed that March results were better than previously forecasted.
In the 2016/2017 crop, which spanned from July 2016 to March 2017, revenue was up 3.7% to USD 4.4 billion, according to Cecafé.
*Translated by Gabriel Pomerancblum