Dear friends,
we have just received as indicated in the below link published by WPTC the resuming production crop 2016:
wptc-world-production-estimate-as-of-30-september-2016
The final number at 37.219.000 tons is showing a substantial reduction in comparison either with the pre-season forecast indicated at about 39.390.000 tons or with the quantity of crop 2015 at 41.384.000 tons.
The reduction was mainly connected to adverse weather conditions in many producing areas.
In spite 2016 final output is below the global consumption that we estimate to be around 38.000.000 tons, the market is remaining weak and prices not reaching a satisfactory level.
Combination of financial weakness and negative economic situation in many African countries are still depressing the market.
We see some chance of improvements only around spring 2017 when the shortage will become more evident.
Keep in touch!
