(Ecofin Agency) - In its latest report on the coffee market released in July, the International Coffee Organization (ICO) said global coffee output should reach 153.9 million bags, thus 1.5% more than previous estimates, setting a new record.

The new volume comprises 97.3 million bags of Arabica and 56.6 million bags of Robusta.

According to the ICO, the new forecast is due to the scaling up of coffee outputs in Indonesia and Peru, respectively third Robusta and fifth Arabica producers worldwide.

While Indonesia should get 11.5 million bags at the end of the ongoing season instead of 10 million bags expected initially, Peru should get 4.2 million bags.

Regarding demand, the institution puts it at about 155.1 million bags for 2016-17 resulting to an overall deficit of 1.2 million bags.

Espoir Olodo