Costa Rican coffee production to jump 11.5% in 2022-2023 cycle - ICAFE

Costa Rica's coffee production will likely grow 11.5% in the 2022-2023 harvest, the country's coffee institute ICAFE said Tuesday, boosted by new plantations and a larger crop during the biannual cycle.

The national coffee group expects the harvest to reach 1.430 million 60-kilo bags, from 1.282 million in the previous cycle, which was affected by climate factors.

"It's very good news; we have always said that what Costa Rican coffee lacks is more production, because there is always a lot of global demand," ICAFE Executive Director Xinia Chaves told Reuters.

The 2021-2022 harvest saw coffee exports drop 8.8% compared to the previous year, preventing farmers from taking maximum advantage of higher prices in the international markets.

The 2022-2023 harvest season will reach its peak in November and December.