ICO sees marginal global coffee deficit in 2017/18

LONDON: The International Coffee Organization on Wednesday raised its forecast for global coffee production in 2017/18 to 158.93 million 60-kg bags, marginally above a previous forecast of 158.78 million.

Arabica production upwardly revised to 98.84 million vs 97.32 million.

Robusta production seen at 60.09 million, down from 61.46 million previously forecast.

Global consumption forecast for 2017/18 raised to 158.95 million from 157.60 million previously, leading to a marginal global deficit for the season.