The International Coffee Organization (ICO), in a monthly update, has maintained its forecast for a global coffee deficit of 502,000 60-kg bags in the 2019/20 season.

Global production was seen falling by 0.9% to 167.40 million bags and consumption climbing by 1.5% to 167.90 million, the ICO said in the update released on Wednesday.

The ICO estimated there was a global surplus of 3.66 million bags in the 2018/19 season. "Despite a slowdown in growth, consumption is predicted to overtake production during the course of the year," the inter-governmental body said.