Exports of Honduran coffee fell by 18% in January due to the Corona epidemic

[caption id="attachment_6488" align="aligncenter" width="1014"] File Photo[/caption] On Monday (February 1, 2021), the National Coffee Institute (IHCAFE) reported that Honduran coffee exports fell by 18% in January. Global demand for the product is declining due to the Corona epidemic. According to preliminary data from the IHCAFE, the Central American country exported 590,48160 kg bags in January, up from 718,886 kg in the same month last year. “In January, demand problems persisted in the world market because of the continuing restrictions in several countries due to the spread of COVID-19,” said Miguel Pon, the executive director of the Honduran Association of Coffee Exporters. “There is also a lot of coffee in the market,” he added. IHCAFE authorities lowered the export forecast for the current 2020-2021 harvest to 5,606,871 60-kg bags, 10.7% lower than originally forecast, due to a drop in production following back-to-back hurricanes that hit Honduras late last year. Source: Online/SZK