Nestlé, J.M. Smucker Mexican coffee exports grind downwards

Ags - Softs 118 Colombia 66 Consumer Staples 650 Mexico 751 U.S. 4740

Global coffee exports cooled in March with a 3.7% year over year decline in supplies reversing a 0.1% rise in the prior three months. That was largely due to a 20.9% drop in exports from Colombia as well as a 9.1% drop in shipments from Mexico. Mexican exports have steadily declined over the past 12 months including a 15.3% slump in shipments to the U.S. in Q1. The closure of coffee shops as part of the coronavirus pandemic complicates matters, though many major exporters from Mexico are focused on home sales not food service. Exports to the U.S. linked to J.M. Smucker slumped 69.2% year...

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