Coffee price plunges further
COFFEE prices plunged to new lows in London on Wednesday (12 April) following a previous drop to seven year lows earlier this week.
The benchmark July Robusta contract closed down at $929/t on Wednesday.
According to the paper leaders of the Association of Coffee Producing Countries are to hold talks with Vietnam and Indonesia later this week to talk about APCs intention to hold back stocks from the market.
Indonesia and Vietnam are the biggest Robusta producers and are especially suffering by falling values.
- Coffee futures at record low, FWi, yesterday (12 April, 2000)
- Financial Times, 13/04/00, page 40