RIO DE JANEIRO: Brazil, the world’s largest producer and exporter of coffee, sold 29.8 million sacks of the bean to foreign markets during the first 10 months of the year, down 0.7 percent from the same period in 2014, an industry group said Tuesday.
Revenue from coffee exports was down 4.4 percent to $5.08 billion as a result of a fall in prices, according to the Council of Coffee Exporters, or CeCafe.
Despite the shortfall in January-October, CeCafe expects exports for 2015 as a whole to exceed 36 million sacks, in line with last year’s total.
Coffee exports during the 12 months that ended Oct. 31 amounted to 36.2 million sacks, equating to revenue of $6.35 billion.
Exports climbed 2 percent last month compared with September, to 3.2 million sacks, according to CeCafe.
“Results in October maintain the strong tendency for Brazil to export 36 million sacks this year,” CeCafe president Nelson Carvalhaes said.
The U.S. remains the main destination for Brazilian coffee exports, buying 6.3 million bags between January and October, or 21 percent of the total, followed by Germany with 18 percent.
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