Japan's April coffee imports rise

Japan's April coffee imports rise

TOKYO (Reuter): A rush to buy coffee by local roasters amidst tight global supplies and rising prices was behind the increase in Japan's April bean imports, coffee traders said yesterday.

Japan's green coffee imports in April totaled 31,059 tons, up by 13.5 percent from the same month a year earlier, mainly from Brazil, Colombia and Indonesia, Finance Ministry data showed.

Total green coffee imports in the first four months of 1997 were 116,843 tons, against 93,193 tons the previous year.

"Japanese roasters were trying to import coffee before world bean prices surged any further," a coffee trader at a major trade house said.

The hurried buying of coffee is expected to keep domestic inventories growing in the near term, traders said.

The Agriculture Ministry said on Tuesday Japan's warehouse coffee stocks were 67,298 tons at the end of April, up 22.7 percent from a year earlier.

Domestic stocks fell steadily last year, since at that time local roasters preferred to keep to the sidelines just covering immediate needs, as they expected prices to come down.

"Domestic stocks are expected to continue growing this year, as local roasters rush to cover coffee at a pace which is quicker-than-usual," another coffee trader said.

Japan is the world's third-biggest coffee consumer after the United States and Germany.