Colombia, the second-largest arabica coffee-bean producer, said flowering in recent weeks in major growing areas will ensure a “very good” year-end harvest.
Year-end production will rebound in the most important provinces of Antioquia, Quindio, Caldas and Risaralda, ensuring the annual harvest will surpass last year’s 8.9 million bags, Colombia’s National Federation of Coffee Growers Chief Executive Officer Luis Genaro Munoz said in an interview in Bogota.
“The production is there,” he said yesterday. “I frankly didn’t sleep until Friday.
Friday and Saturday the flowering was completed” in the central growing areas, he said.
Above-average rainfall hurt coffee trees last year, prompting a decline in exports and a surge in prices.
Coffee doubled in the past year, making it the second-best performer among 22 commodities tracked by the Bloomberg CRR Futures List.
Arabica coffee for May delivery gained 1.35 cents, or 0.5 percent, to settle at $2.7435 a pound at 2 p.m. on ICE Futures U.S. in New York.
The price earlier declined as much as 2.65 cents to $2.7035.
Production in Huila, Colombia’s second-largest growing province after Antioquia, will rise in the first six months of the year, Munoz said.
Year-end production will rebound in the most important provinces of Antioquia, Quindio, Caldas and Risaralda, ensuring the annual harvest will surpass last year’s 8.9 million bags, Colombia’s National Federation of Coffee Growers Chief Executive Officer Luis Genaro Munoz said in an interview in Bogota.
“The production is there,” he said yesterday. “I frankly didn’t sleep until Friday.
Friday and Saturday the flowering was completed” in the central growing areas, he said.
Above-average rainfall hurt coffee trees last year, prompting a decline in exports and a surge in prices.
Coffee doubled in the past year, making it the second-best performer among 22 commodities tracked by the Bloomberg CRR Futures List.
Arabica coffee for May delivery gained 1.35 cents, or 0.5 percent, to settle at $2.7435 a pound at 2 p.m. on ICE Futures U.S. in New York.
The price earlier declined as much as 2.65 cents to $2.7035.
Production in Huila, Colombia’s second-largest growing province after Antioquia, will rise in the first six months of the year, Munoz said.
Huila, which produces beans brewed by companies including Starbucks Corp., and other nearby growing areas had less severe rainfall than areas farther north, where precipitation in some cases was four times average last year, Munoz said.
Stalled Recovery
Damage in those areas to flowering last year will cause a recovery in the nationwide crop to stall in the first half, he said.
Colombia aims to increase production as it accelerates plans this year to sow more disease-resistant coffee varieties, Munoz said.
A disease caused by fungus, known locally as roya, that attacks plants probably peaked last year, Munoz said.
Last year, exports slid by 78,000 bags to 7.82 million bags. Output in 2010 fell short of the 9.5 million bags forecast in October by the federation.
A bag weighs 60 kilograms (132 pounds). Brazil is the largest producer of arabica beans.
Stalled Recovery
Damage in those areas to flowering last year will cause a recovery in the nationwide crop to stall in the first half, he said.
Colombia aims to increase production as it accelerates plans this year to sow more disease-resistant coffee varieties, Munoz said.
A disease caused by fungus, known locally as roya, that attacks plants probably peaked last year, Munoz said.
Last year, exports slid by 78,000 bags to 7.82 million bags. Output in 2010 fell short of the 9.5 million bags forecast in October by the federation.
A bag weighs 60 kilograms (132 pounds). Brazil is the largest producer of arabica beans.
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