Exports of Colombian Arabica coffee for the month of August was registered at 374,000 bags, the lowest level in 23 years, reported Bloomberg.
This figure represents a drop of 38% compared with the August 2010 figure of 599,000. According to data from Colombia’s National Federation of Coffee Growers, 347,000 bags weighing 132 lbs each were exported in September 1988.
Monthly production also dropped to a two-year low, from 615,000 bags in August 2010 to 466,000 bags last month, representing a 24% decline.
Colombia, the world’s second biggest exporter of Arabica beans after Brazil, has been ravaged by storms caused by the La Niña weather phenomenon. The storms and floods hampering the flowering of coffee plants causing the fall in production.
Lower exports from Colombia have led to a 39% rally of coffee in New York in the past 12 months.