Subdued trading for coffee futures
BRAZIL, the worlds largest producer of coffee beans, is expected to produced a bumper crop this season, which is having the effect of subduing futures trading.
News that Columbia had lowered its crop forecast by a million 60kg (132 1b) bags to 12m, triggered initial interest on the futures which could not be sustained.
The Association of Coffee Producing Countries meets next week. Meanwhile, cocoa futures are continuing to fall, even though there are fears of a global supply deficit.
White sugar fell in quiet London trade. Analysts said if there were El Niño production problems, the long-term picture for the commodity was potentially bullish.
- Financial Times 19/09/97 page 31