Brazil harvest weighs onLondons coffee market

23 June 1998

Brazil harvest weighs on
Londons coffee market

THE predicted bumper harvest from Brazil has had a negative effect on prices, with the September contract for robusta coffee closing at $1,600, down $43, on the London International Financial Futures Exchange.

Cocoa futures were also down. The September contract closed £7 million lower at £1,067 a tonne.

Reports from the Ivory Coast suggested the cocoa harvest might be as much as three weeks late and total crop of 1.1m tonnes might be expected for the 1998-99 season. The current seasons crop is approaching 1.3m tonnes.

• Financial Times 23/06/98 page 36