BOGOTA, Jul 22, 2010 (Dow Jones Commodities News via Comtex) -- Colombia's coffee output in the second half of this year will likely reach 6 million sixty-kilogram bags, the General Manager of Colombia's National Federation of Coffee Growers, or Fedecafe, said Thursday.
"We still look at output with optimism and we expect output to be much higher than in the first half of the year," Fedecafe's top official, Luis Genaro Munoz, told reporters Thursday.
Output in the first half of this year was 4.0 million bags.
Finance Minister Oscar Ivan Zuluaga said the total output for this year will likely reach 10 million bags. Earlier this month, Munoz had said the output would be between 10 million and 10.5 million bags.
Munoz also said both the general price of coffee and the price of mild Colombian coffee will stay stable. He said the market would absorb the expected increase in Colombia coffee supply without impacting prices as the demand for coffee is rising faster than output.
The gap between global demand and supply is likely to be around 5.8 million bags this year, he said.
Inventories around the world are at a record low.
Colombia is the world's largest producer of mild washed arabica coffee. Total output had fallen 32% in 2009 compared with 2008 to 7.8 million bags. Colombia was the fourth-largest producer overall after Brazil, Vietnam and Indonesia in the 2008-09 crop cycle.
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