Introduction:In February 2024, Brazil’s coffee exports surged nearly 50% year-on-year, with Robusta varieties reaching an all-time high, driving overall foreign exchange earnings higher. Despite ongoing shipping delays at major ports such as Santos, export performance remained robust. China’s imports skyrocketed by 158.8%, adding new variables to future supply dynamics. This article analyzes the trends behind the data, the current state of ports, and key turning points in the global competitive landscape.
According to recent statistics released by the Brazilian Coffee Exporters Council (CECAFÉ), despite continued vessel congestion at major export ports including Santos, Brazil’s coffee exports in February 2024 showed astonishing growth, rising by as much as 49% year-on-year, once again highlighting its competitiveness in the global market.
Specifically, in February 2024, Brazil exported a total of 3.626 million bags of coffee (60 kg per bag), a significant increase of 48.9% compared to 2.435 million bags in the same period last year. This growth also drove a corresponding rise in foreign exchange earnings, which were 47.2% higher than the same period last year. Looking at the first two months of 2024 as a whole, Brazil exported a total of 7.654 million bags of coffee, an increase of 44.9%, with total revenue reaching $1.574 billion, up 39.3% from the same period in 2023.
Breaking down by coffee variety, between January and February this year, Arabica coffee remained the dominant export, totaling 6.076 million bags, accounting for approximately 79.38% of the total, with a year-on-year growth of 35%. However, even more noteworthy was the performance of Robusta—exports reached 1.031 million bags, a staggering 531.4% increase compared to the same period last year, showing almost explosive growth.
The president of CECAFÉ specifically pointed out that February’s Robusta exports not only set a new monthly record but also surpassed the total volume of the previous two months, fully demonstrating the international appeal of Brazilian Robusta. Notably, the current domestic trading price of Robusta in Brazil is about $2,876 per ton, while Vietnam’s Robusta—its main competitor—is priced as high as $3,450 per ton. This clear price advantage has enabled Brazil to quickly fill the market gap caused by production declines in Vietnam and Indonesia.
Although the geopolitical conflict in the Red Sea region has caused some disruption to global shipping, there have been no reports of substantial impacts on the logistics of Brazil’s coffee exports so far. However, CECAFÉ emphasized that it will continue to monitor this international situation, as rising freight costs, port congestion, and shipping delays remain critical challenges the industry must closely watch.
Taking Santos Port as an example, the coffee vessel delay rate in February was 75%, involving as many as 75 cargo ships, with the longest waiting time for berthing reaching up to 22 days. However, this figure has improved compared to the 85% delay rate in January. Previously, due to cyclones and tropical storms in southern Brazil, some cargo ships had to reroute to other ports, and Santos Port’s limited operating hours also contributed to temporary congestion. Relevant authorities have now begun readjusting operations to alleviate the ongoing logistics bottleneck.
In terms of market distribution, the United States remains Brazil’s largest coffee importer, but the rise of the Chinese market cannot be overlooked. In the first two months of 2024, China imported a total of 256,931 bags of coffee from Brazil, a surge of 158.8% compared to the same period last year. CECAFÉ believes that as long as port transportation issues are gradually resolved, Brazil will be able to further increase supply in the future, helping to meet global market demand, including that of China.
The above content is compiled by CoffeeHunters, a coffee news website.
