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Alternation of high and low production years shows influence of biennial cycle in Brazil on overall supply.1999-2002: period of overproduction stimulated by high prices in late 1990s causes coffee crisis (2000-2005)Supply today is more or less balanced with demand.
Geographical distribution of world production in 2008/09 (preliminary estimate)
The recovery in prices since 2005 has been stimulated exports, which set new records in 2007 and 2008.
The price cycles during the free market period are reflected in the value of coffee exports.Low earnings were registered during 1989-1993 and 2000-2004.The figure of US$15.2 billion in 2008 is the highest in history.
World consumption has shown steady growth of around 2.5% per annum in recent years.Prospects for consumption in the context of the current economic crisis will be examined at the end of presentation.
Preliminary estimate of total consumption is 130 million bags.
China: includes Mainland China, Hong Kong, Macao and Taiwan. Coffee production in China also included