In West Africa, growers are hoping that dry weather will be broken by some gains to bolster bean sizing and quality in the midcrop.
A more prolonged dry period could threaten tree health and pod-setting for the new main crop.
ICCO estimates 2019/20 production and grind near 4.73 MMT and 4.67 MMT, yielding a surplus of 10,000 MT and estimated carryout of 1.73 MMT. For 2020/21, ICCO forecasts production at 4.84 MMT and grind at 4.69, for a surplus of 102,000 MT and carryout of 1.83 MMT.
Also bullish: Ivory Coast cut its midcrop farmgate price to 750 CFA francs, down from last midcrop’s 825 francs and from the main-crop price of 1,000 francs. Authorities suggested that the cut would have been steeper without the LID.