Weather boosts Brazil coffee futures
FEARS that dry weather has seriously damaged the coffee crop in Brazil, the worlds largest producer, has sent coffee futures rocketing.
Premium-quality arabica coffee in New York rose 55¢ in early trading to 127¢/lb, 40% more than its price at the beginning of the month.
Brazil had been target for a record harvest of 45m 60kg bags. Some producers have put the harvest at only 25m – which would put world supplies in deficit.
- Brazil bids for coffee stability, FWi, 02 August, 1999
- Brazil exports record coffee crop, FWi, 30 July, 1999
- Brazil fails to realise bumper coffee crop, FWi, 03 September, 1998
- Financial Times 16/11/99 page 29