In Brazil, coffee has already been harvested from 22% of the area, the collection rate is higher than last year for the same period, and is also higher than the average for the last five years, consulting firm Safras & Mercado reported on Thursday, May 30.

At the end of May last year, Brazilian farmers harvested coffee from 18% of the area, and the average five-year value for this period is 19%, Safras & Mercado said in a statement.

Despite the fast picking rate this year, Safras & Mercado coffee analyst Gil Barabach said that in recent years, harvest in some areas, especially in areas of Arabica production, has been hampered by rain. Over the past two months, the weather in central Brazil has been wetter than usual.

Coffee prices rose in recent exchanges in New York, with some traders calling the cold and rainy weather in Brazil one of the reasons. Prices have been depressed for a long time, having recently reached a 13-year low.

Consulting estimates that the world's largest exporter will produce 58.9 million coffee bags this year, the highest rate for the entire year in a two-year production cycle.

Based on estimates of production and harvest rates, Safras said farmers had already collected 13 million bags of coffee.