Brazil's 2017 coffee crop was 44 percent sold through September 11, slightly behind the 46 percent level seen at this time last year but ahead of a five-year average of 41 percent, consultancy Safras & Mercado said on Thursday. Safras estimates that 22.25 million bags from the current crop, which it projects at 51.1 million bags, have been sold by farmers so far.
Gil Barabach, Safras & Mercado coffee analyst, said sales gained pace recently after a slow start to commercialization early in the season, but producers were still reluctant to sell large volumes, waiting for a possible increase in prices. Farmers have basically finished harvesting coffee this year and are expecting rains that could improve flowering, a critical stage to determine production potential for next season.
Farmers and cooperatives have been complaining of excessively dry weather in most coffee areas in Brazil, which they say is causing leaves to fall and delaying flowering. According to the Thomson Reuters Agriculture Weather Dashboard, there are no forecasts of rain in the top producing region of South Minas Gerais this month.