ICO projected increase in world coffee crop 2012/13

The world coffee production in 2012/13 is expected to increase 7.7% from a year earlier to 144.5 million bags, said on Wednesday the International Coffee Organization (ICO).
A frost in the main world producer, Brazil, in July should not cause damage to production in the main producing areas in Minas Gerais and Espírito Santo, stressed the OIC.
"The frost was registered in the State of Paraná, which had initially forecast to produce 1.7 million bags," the organization said in its monthly report, noting that the damaged area produces a relatively small volume of coffee compared to the total.
The ICO has estimated consumption in calendar year 2012 at 142 million bags, representing an average annual growth of 2.4%, as in the past four years.
Source: Reuteurs