As of May, the Nicaraguan Coffee Exporters Association (Excan) recorded revenues of $ 300 million, lower than what was achieved last year when it recorded revenues of $ 318 million during the same period.
The outlook for the sector is not encouraging if the 15% loss in production is taken into account.
“In the month of May we have exported 2 million quintals of coffee, less than the 2 million 340 thousand quintals of last year. This indicates that there is 15% less in volume that is being offset by the 10% increase in the price per quintal of coffee. In absolute terms, exports have not increased because there is a drop of 18 million dollars, “said Manuel Miranda, president of Excan.
Miranda explained that this decline is due to a combination of two factors: a reduction in the harvest due to the lack of fertilization by producers due to the high cost of inputs and the negative consequences derived from the passage of hurricanes Eta and Iota.
The sale of the coffee bean is directed mainly in almost 50% to Europe and the other 50% to the United States. Within Europe, the markets of Italy, Spain, Belgium and Finland stand out.
A problem that persists for the sector as a result of the effects of the pandemic is the shortage of containers, delaying grain delivery dates.
“If, for example, we wanted to ship something for the month of July, it is impossible to find spaces, we have a delay of between 30 and 60 days approximately to be able to get space on the ships and be able to export, it is a situation with which we will have to live until the closing of this harvest at the end of September “, said the president of Excan.
According to Miranda, experts have predicted that this situation will continue until the beginning of next year.
Excan expects the month of September, when the coffee cycle ends, to have exported around 2.8 million quintals of coffee.
In foreign exchange, they expect revenues to be close to 440 million dollars, similar to what was obtained in 2020.
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