Global coffee body sees market well supplied near term on higher crop.

The international coffee market is seen well supplied in the near term as total export from major growing countries during Oct-Mar is estimated to be up 4.8% at 60 million bags (1bag=60kg). Global supply outlook during 2017-18 (Oct-Sep) is seen positive as initial concerns about frost in Brazil and a shortage of rainfall in Vietnam affecting the crop have eased. Rise in exports during Oct-Mar was mainly due to an increase in supplies of Colombian mild Arabica and other mild coffee grades. Colombia exported 10.3% larger volumes in the first six months of coffee year 2016-17. Shipments of Arabica coffees from origins in the Other Milds group are 16.6% higher than in the same period of the previous year. The rise in export shipments have ensured sufficient global stocks, and thereby have weighed on global prices.