(Updates with council comment in second paragraph.)
Nov. 17 (Bloomberg) -- Coffee exports from El Salvador soared to 23,081 bags in October from 1,101 bags a year earlier, the country’s coffee council said in a report.
“Exports rose because the changes in climate ripened beans sooner than normal,” spurring growers to accelerate the harvest, Ana Elena Escalante, the council’s executive director, said today in a telephone interview from San Salvador, the capital.
Heavy rain in October will cut El Salvador’s crop by almost 90,000 bags in the year ending in September, Procafe, an industry group, has said.
“The crop will still be reduced by the rains, but the quality will not be affected,” Escalante said.
Losses may climb as high as 239,000 bags, or 17 percent of the expected output of 1.42 million bags, because of high winds and road damage, Procafe said on Oct. 26. A bag weighs 60 kilograms, or 132 pounds.
Arabica coffee for March delivery fell 0.5 percent to $2.379 a pound at 12:09 p.m. on ICE Futures U.S. in New York. Before today, the price dropped 23 percent from a 14-year high of $3.089 on May 3.
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