Europe Trend Week 49

European market on a balancing trend, yet still disappointing.

The overall supply has remained moderate once more this week. On the one hand, despite additional shipments still very much focused on the EU (6% above average), the dollar supply is continuing to shrink, because of the seasonal fall from Colombia and Costa Rica. In addition, the African supply remains in shortfall (7% below average), despite the Ghanaian and Ivorian production peaks. Meanwhile the French West Indies are maintaining stable and moderate levels.
On the other hand, across the European markets, demand is not as dynamic as in previous years, and the sales tempo remains disappointing. However, the ongoing improvement in demand from the East European markets is helping reduce stocks, and export prices to strengthen.
The improvement is also extending to the West European markets, though prices are still below average (-12%).
In Russia, despite the increase in the supply, prices are continuing to strengthen slightly, thanks to livelier demand.