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U.S. green coffee stocks fall for 2nd consecutive month -GCA

10/15/2020 | 03:45pm EST

NEW YORK, Oct 15 (Reuters) - The amount of green coffee stocked in warehouses in the United States fell by 343,271 60-kg bags to 6.4 million bags by the end of September, the second consecutive reduction, the Green Coffee Association (GCA) said on Thursday.

It is the largest monthly reduction of U.S. coffee stocks since February and the second major draw during the coronavirus pandemic, when stocks increased month after month as most coffee shops remained closed.

Current levels, however, remain relatively high considering historical lows below 4 million bags seen in 2011. They are also comfortable compared with data in the end of March when stocks fell to nearly 6 million bags.

The GCA data includes both the coffee at the exchange warehouses and volumes kept by other market participants in the United States. The largest reductions were seen in the ports of New York, Jacksonville and Baltimore.

Despite low certified stocks, most analysts see the market well supplied after a record crop in top producer Brazil and limited demand due to reduced activity in coffee shops and restaurants.

PORTS CURRENT CHANGE NEW YORK 1,871,363 -63,919 NEW ORLEANS/BATON ROUGE 454,775 -33,088 JACKSONVILLE 313,600 -60,900 MIAMI 130,227 1,276 HOUSTON 630,442 -31,729 LAREDO 29,074 -8,934 SAN FRANCISCO 883,109 -20,205 NORFOLK 227,049 -13,920 PACIFIC NORTHWEST 499,992 -16,198 LOS ANGELES/LONG BEACH 100,540 9,966 BALTIMORE 215,656 -60,372 SOUTH CAROLINA 764,313 -10,496 SAVANNAH 281,925 -34,752 TOTAL USA: 6,402,065 -343,271

(Reporting by Marcelo Teixeira; Editing by Sandra Maler)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) 0.06% 6.3418 Delayed Quote.42.99%
GCA CORPORATION -1.35% 730 End-of-day quote.-27.22%
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