Global Coffee Exports Jump By 32% In December Says ICO

World coffee exports jumped by nearly one-third in December, following massive demand for the arabica variety- as prices for highest-grade Kenyan beans hit the equivalent of $20,440 a tonne. World coffee exports in December were, at nearly 10.4 million (m) bags, up 32% on the same month in 2009, data from the International Coffee Organisation (ICO) stated yesterday. 
The increase was particularly strong in arabica beans, which is traded in New York, for which exports jumped by some 40%. By country, Brazil, the world's top producer and exporter, saw a 35% jump in exports to 3.4m bags. 
The boost in December took exports for the whole year, which had been running 1.4% lower year on year, to 97.5m bags, an impressive 1.4% increase over the 2009 figure.
Off late, the prices had maintained their strength despite the improving supplies onto global markets. The Arabia coffee has been hovering around 13-year highs in New York and the Robusta variety is quoting near a two-year high in London. 
The ICO has warned that opening inventories in exporting countries were unlikely to have exceeded 13m bags in 2010-11, compared with 20.9m bags a year before, and the lowest since at least the 1960s.
Kenya's supplies, which are highly valued for their quality, have been further hit by weather setbacks. The country, unlike African neighbours, has suffered poor coffee growing weather with unusually late and heavy rains early in 2010.

(Source: http://www.indiainfoline.com/Markets/News/Commodities-Buzz-Global-Coffee-Exports-Jump-By-32-percent-In-December-Says-ICO/3543123430)