Costa Rica has produced 1.47 million 60-kilogram bags of coffee during the current cycle through Feb. 21, up 5% from the same period last year, the country's Coffee Institute said Friday.
Costa Rica is expected to produce 1.56 million bags in the 2010-2011 season. The country is among Central American coffee producers expected to provide global supply relief amid disappointing output from larger producers such as Colombia and Mexico.
Of the coffee produced through Feb. 21, 1.41 million bags have already been sold, with 87,594 bags remaining in the country for domestic consumption, the institute said in a report.
Coffee exports for the October-January period saw a bigger increase than production, rising 22% as producers have rushed to ship their coffee overseas while international coffee prices hover near 14-year highs.
Rains at the beginning of the harvest and low yields from aging coffee plants hurt production in certain parts of the country, but officials said damages weren't as severe as they thought at first.
The average price per pound of coffee beans sent overseas was $2.09 through Feb. 21, up from $1.54 for the period last season.
(Source: http://www.coffeeasean.org/details.asp?Object=5&news_ID=1378512)
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