Costa Rica coffee exports fall 33% in July to 5-year low

Costa Rica coffee producers exported 33.3 per cent fewer beans in July than a year earlier, the coffee institute ICAFE said on Tuesday, hit by logistical shipment issues.

The Central American country exported 101,673 60-kg bags in July, a drop from the 152,482 units exported in the same month in 2022.

It marks the lowest export for the monthly period in five years, despite ample volumes.

"Currently we have some 133,000 bushels for sale (equivalent to about 102,000 60-kilo bags); sales are slow,” Victor Vargas, head of regional units at ICAFE, told Reuters, without ruling out ongoing issues from ship container shortages.

Also Read | Pfizer considers cost cuts as demand for Covid products falls

The coffee season in mostly-arabica growing Central America and Mexico starts in October and ends the following September, leaving two months to go.

July's numbers bring total exports during the first ten months of the current coffee season to 861,817 60-kilo bags, a 6.8 per cent drop from the previous period, according to official figures.

It comes after shortages of shipping containers and boats hurt exports in the year's first half, despite a strong harvest last season.

The ICAFE report added that the price of Costa Rican coffee remains favorable compared with the international average, with a weighted price of $255 per bag.