From July 27th to 30th, the XXIV International Tasting The Best of Panama will take place virtually, in which 45 producers registered a total of 161 specialty coffee lots.
Laestrella.com.pa reviews that "... The Specialty Coffee Association of Panama (SCAP) has completed the registration process and as of June 15 will receive 24,150 pounds of the world's most coveted coffee, which has been carefully selected by producers.
If the international prices of bananas, coffee, sugar and palm oil do not improve, and if combined with a global economic recession, Guatemala, Honduras and El Salvador could stop exporting as much as $2.268 million altogether in 2021.
According to the report "Proceso de integración Centroamericana del Triángulo Norte: Escenarios de riesgo en la matriz de exportación" (Central American Integration Process of the Northern Triangle: Risk Scenarios in the Export Matrix), prepared by the Asociación de Investigación de Estudios Sociales (Asíes), garment making is another activity that could be affected in the coming years.
Last year, the main regional crop sold abroad was coffee, with $2.671 million, followed by banana, with $2.594 million, pineapple, with $1.097 million and sugar, with $722 million.
Data from the Trade Intelligence Unit at CentralamericaData:
The main coffee export destinations were the U.S., Germany, Belgium, Italy, Japan and Canada, which together represent 70% of the volume exported by the region, equivalent to approximately $2,050 million. [GRAFICA caption="Click to interact with the graphic"]
By analyzing the behavior of the global market, it is established that Holland, Switzerland and Germany are willing to pay a higher price for a distinctive cup of coffee.
Between the Committee of Distinguished Coffees of the guild of exporters of Guatemala and the European Union, they carried out the study called "Trends and Opportunities of exportation of coffee with added value", in which the price of coffee in 77 cities of the world was compared.
In Guatemala the union of producers has stated that a reduction in international prices is affecting the sector, which is already facing difficulties in covering production costs.
The National Coffee Association attributes the problem to international consortia, which may be exerting further downward pressure on grain prices.They warn that this situation will have a strong impact on the national economy, because with current prices, producers are not even able to cover their costs.
Prices for all coffee groups fell in July 2018, though the largest month-on month decrease occurred for Brazilian Naturals, which declined by 4% to 110.54 US cents/lb.
From the monthly report by the ICO:
In July 2018, the ICO composite indicator price decreased by 2.9% to an average of 107.20 US cents/lb, which is the lowest monthly average for July since 2007, when the monthly composite indicator reached 106.20 US cents/lb.
Due to the climatic conditions predicted for the months of July and August, an increase is expected in the presence of the disease in coffee plantations in Costa Rica.
During July there is a typical decrease in rainfall known as "la canícula", a period in which Rust progresses slowly and the emergence of new lesions is less.However, at the same time there is a greater presence of spores in the lesiones favored by the warmer temperature and by weaker and less frequent rains.This situation will promote a largeincrease in the disease in the majority of the Costa Rican coffee plantations when more abundant rains return starting in August, reported the Coffee Institute of Costa Rica (Icafé).
The prices of the three groups of the Arabica variety fell in April, but the highest month-on-month reduction was recorded in the price of natural coffees in Brazil.
In April 2018, theICO composite indicator decreased by 0.4%to an average of 112.56 US cents/lb, with the daily price ranging between 110.49 US cents/lb and 114.73 US cents/lb.Prices for all three Arabica groups fell in April 2018, though the largest month-on-month decrease occurred for Brazilian Naturals, which fell by 0.9% to 118.76 US cents/lb.
After a slight increase in the first month of 2018, in February international prices fell by 1%, due to the negative behavior of three groups of the Arabica variety.
From the monthly report by the International Coffee Organization:
After a slight rise in January following a three-month decline, the monthly average of the ICO composite indicator fell by 1.2% in February 2018 to 114.19 US cents/lb.
In the first nine months of 2017, countries in the region exported $2.795 million worth of coffee, 29% more than was sold during the same period in 2016.
Figures from the information system on the the Coffee market in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with the graph"]
After reaching its lowest level in 22 months in December 2017, the monthly average of the ICO composite indicator price increased by 1.4%.
From the monthly report by the International Coffee Organization:
Coffee market recovers slightly from December slump
After reaching its lowest level in 22 months in December 2017, the monthly average of the ICO composite indicator price increased by 1.4% to 115.60 US cents/lb in January 2018.
The Guatemalan union of the sector announced that the reactivation plan they are preparing is based on the renovation of coffee plantations within a period of five years.
The National Coffee Association (Anacafé), is working in conjunction with the ministries of Public Finance, Agriculture, Livestock and Food and the Inter-American Development Bank, on a plan for economic reactivation of the sector, which could be ready in the coming weeks.
According to the union of exporters, for 2018 the destinations that represent potential opportunities for special coffees are Taiwan, China, Australia, Malaysia, Czech Republic and Chile.
In the case of the Chilean market, the first multisectorial trade mission led by the Department of Market Development and Commercial Promotion of the Guatemalan Association of Exporters (Agexport) was carried out in 2017, in which more than 50 commercial appointments were attended, showing high interest for the special coffees of Guatemala.
In 2016, bananas were the agricultural product that generated the most export revenue in Central America, with sales of $2.4 billion, corresponding to 5.7 million tons.
Data from the interactive system Monitoring of Crops in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with the graphic"]
In September international prices continued the downward trend that began in late August, and for the third consecutive year the 2016/17 coffee cycle closed with a deficit.
From a report by the International Coffee Organization:
The ICO composite indicator continued its downward trend that started at the end of August, averaging 124.46 US cents/lb.