Colombian coffee production dropped by 33% in April, with 523,000 132 lb sacks produced, compared to the previous month’s 779,000, according to information recieved by Bloomberg.
The statement, coming from Colombia’s National Federation of Coffee Growers (FEDECO), also provided figures which reflect a production decrease of 19% as compared with the same month of 2010, during which 647,000 sacks were produced in April. These figures stand in stark contrast to March, when production was up 24% compared with the previous year.
Export figures show a monthly drop of 36%, from 924,000 sacks in March to 574,000 sacks in April. However, compared with April 2010, only a 2.4% drop in exports occurred.
As a result of the devastating winter rains which have flooded 2.5 acres of farmland, investors have been speculating that there will be a poor coffee harvest this year, leading to less supply.
Demand, meanwhile, has remained steady, leading the price of coffee to reach record highs.
