DJ ICO Ups 08-09 World Coffee Output 1 Mln Bags To 127 Mln
Date: 05/13/2008 05:32


LONDON (Dow Jones)--World coffee production for 2008-09 has been revised up slightly to 127 million 60-kilogram bags, from the April estimate of 126 million bags, the International Coffee Organization said Tuesday.
This is significantly higher than the 2006-07 crop of 117 million bags and is helped by growth in Brazil's production.
World consumption is set to grow to 127 million bags in 2009 from the predicted 125 million bags in 2008, said the ICO.
Importing members of the ICO purchased a record high of around 100 million bags of coffee in 2007.
"This rate of imports is an indication of the rapid growth in world consumption and an important factor for maintaining the firmness of prices," said the ICO.