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update 1-brazil likely to produce another large coffee crop in 2019 -company

by:Kenwei      2019-09-16
(
Including details of the estimate, comments from the CEO of the company)
Sao Paulo, December 6 (Roberto Samora)Reuters)-
After a record production of 60 million, Brazil is likely to produce a large coffee crop next year.
According to estimates from Brazil\'s largest coffee processing company, despite the fact that the arabica tree has been \"off\" for a year, the KG bag in 2018.
Coffee group, 50-
50 joint ventures between Israel Strauss Group Co. , Ltd. and Brazil\'s San Miguel holding company predict that Brazil\'s coffee production is 2019 bags, 55 million, slightly lower than the record production this year, sufficient rain has boosted production prospects.
3 coráes Chief Executive Pedro Lima told Reuters that the company has an analysis team that is responsible for assessing production trends in Brazil and expects production of arabica coffee to drop to 35 million bags next year. Compared to the 44 million bags in 2018, as the variety usually has a sharp drop in production in the years after the bumper harvest.
But the company expects robasta coffee production to grow from 20 million bags in 2018 to 16 million bags next year, confirming the recovery trend of this coffee in the country, in recent years, when the main producer, Espirito, experienced the worst drought ever, his production dropped sharply.
Arabica coffee beans are mainly pursued by manufacturers of high-quality coffee brands, while robusta coffee is widely used by instant coffee producers.
\"This is probably the biggest time.
Lima said he was referring to overall production next year.
So far, Brazil\'s biggest production in a year was in 2013, when farmers gathered 49. 15 million bags.
Lima says prices will remain stable in the coming months.
New York arabica coffee futures hit 12-
The annual low in September has since been hovering near the same level, slightly above $1 per pound.
The executive said that coffee sales this year are very large, helping the company to have 27-
Percentage of local ground coffee market share to increase profit margin.
He expects revenue to grow by 10% in 2018.
Real 8 billion ($1. 22 billion).
3 cora is second in addition to the ground roasting market
The biggest participant in instant coffee, second only to Nestle, the market leader, sells a full range of capsules with its own machines.
Lima said the company will invest 0. 32 billion reais next year, mainly to boost its sales in the specialty coffee sector, which is growing much faster than the overall market in Brazil. ($1 = 3. 9225 reais)(
Roberto Samora reports;
Text editor Marcelo Teixeira head Nomiyama and Ricci of Andre)
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