A woman mixes sugar in a coffee at the Berrio square in Medellin on October 30, 2017. October is the peak of the high season coffee harvest in the region of Ciudad Bolivar, one of Colombia's most productive coffee towns, employing over 25000 coffee pickers from all over the country between October and December. (the town has a stationary population of 20000 people). / AFP PHOTO / JOAQUIN SARMIENTO
NEW YORK/LONDON: World coffee exports rose to a record in the 2016-17 marketing year, International Coffee Organisation (ICO) data showed on Tuesday, while inventories of importing countries rose to an eight-year high.
Total coffee exports for the 2016-17 season (October-September) rose 4.8% to 122.45 million bags, ICO data showed.
The higher global exports occurred as stocks in importing countries hit an eight-year high in June at 25.4 million bags despite a third straight global deficit year.
Total 2016-17 exports of arabica rose 7.9% to 77.52 million bags, while robusta fell 0.2% to 44.93 million bags.
Total coffee exports in September, however, fell to 8.34 million 60-kg bags, down 14.8% year-on-year, monthly ICO data showed.
For September, arabica exports dropped to 5.48 million bags, down 9.2% from a year earlier, while robusta coffee exports fell 23.9% year-over-year to 2.86 million bags. - Reuters
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