the amount of green coffee stored in the ports of United Statesthe world’s largest consumer of drinkincreased by 173,201 60-kilogram bags by the end of July, to 6.22 million bags, data from the Green Coffee Association (GCA) showed on Monday.
It was the fourth consecutive monthly rise in inventories, which before that had been falling every month and hit a one-year low in late March amid a global supply squeeze after weather problems crippled crops in producing countries.
The increase, however, is seasonally small for this time of year when US importers would normally be receiving more volumes than Brazilits biggest supplier, where the harvest is coming to an end.
Last year, for example, US inventories rose by 300,000 bags by the end of July.
GCA data includes both coffee in ICE exchange warehouses and volumes held by other market participants at US ports.
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Source: Moneytimes
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
