Saturday, July 4, 2020

Coronavirus boils the global coffee industry

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Published on : 04/09/2020 – 00:18

To limit the spread of covid-19, the Kenyan authorities have asked the Nairobi coffee exchange to stop the auction. One of the multiple disturbances caused by the coronavirus to the entire world coffee sector.

The Nairobi coffee exchange interrupted its electronic auctions during the session on March 31. Kenyan authorities’ decision to stop the spread of the virus. Since then, the 700,000 producers have been worried about the marketing of their harvest, the country’s third source of export income.

Kenyan coffee is a high-end arabica primarily intended for artisan roasters in Europe and the United States. A niche market, less than 900,000 60-kilo bags shipped each year.

Honduras confined to full coffee harvest

The impact is therefore more local, in Kenya, than international. The world’s coffee industry is nonetheless undergoing major disruption because of the coronavirus. Honduras, the world’s fourth largest exporter, has been forced to contain 15 days in the middle of the harvest, as has Peru.

In India, shipments of coffee are desperately waiting for an administration stamp to leave the port of Bangalore. Containers still blocked in China are missing, boats cancel stopovers in Le Havre and do not deliver coffee in due time. And this while consumers have run for coffee in stores. The fear of missing out before being confined to your home. ” The soufflé has dropped a bit, but in France, everyone bought their weight in coffee “Quips a merchant.

Fear for Brazil which has not taken preventive measures

This has prompted the large roasters that supply large retailers to be a month ahead of their grain purchases. Will this short-term frenzy compensate for the collapse in out-of-home coffee consumption, since bars, restaurants and hotels have closed? Not sure. Arabica prices have already fallen after a strong rebound since late February.

What is certain is that the entire coffee industry must adapt hourly to incessant disturbances. The great fear for the coming months is that Brazil, which will enter the harvest, the largest in its history, will lack containers, or be faced with a major health crisis, since no preventive measure has been taken. taken by the government of Jair Bolsonaro.

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