MILAN – Brazil’s crop supply agency Conab released yesterday its long-awaited survey on coffee stocks in the hands of the private sector. According to the report, private farm and trade coffee stocks in Brazil as of March 31 amounted to a total of 12,893,000 bags, of which 11,851,000 bags of Arabica coffees (or 92% of the total) and 1,043,000 bags of conilon robusta coffees.
This is 3,067,000 bags or 31.21% higher than the same time last year. It is the highest level of stocks since 2016, a result of a record crop in 2018 of almost 62 million bags, according to the agency.
Coffee stocks in Minas Gerais, Brazil’s largest producer, are estimated at 9.2 million bags of Arabica and 13,700 bags of Robusta, an increase of 24.2% from last year.
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