Cooxupé, Brazil’s top coffee exporter and the world’s largest coffee grower cooperative, announced Wednesday a sharp decline in shipments in 2023 due to low prices and logistical bottlenecks.
Cooxupé said in its annual report that it shipped 4.5 million 60kg bags of arabica coffee in 2023, versus 6.8 million bags in 2022. Revenue fell from 10.1 billion reais in 2022 to 6 .4 billion last year.
The exporter said associated farmers decided to hold onto coffee and not sell it for several months last year, when Arabica coffee prices had fallen to around 700 reais per bag.
Some foreign customers have also asked the cooperative to postpone shipments due to high transportation costs and low container availability, cooperative president Carlos Augusto Rodrigues de Melo told reporters at a meeting on the findings.
The situation has changed this year as Arabica coffee prices have recovered and risen to around 1,000 reais, leading farmers to be much more active in sales.
The cooperative estimates that farmers have sold around 1 million bags in the last 60 days, while also trying to finance the costs of field work as the harvest season approaches.
Source: Terra
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