Reals plummet hits softs

09 February 1999

Real’s plummet hits softs

BRAZILS currency devaluation continues to affect global soft commodity markets, with price falls reverberating around the world.

Coffee prices in London fell yesterday on reports that Brazils Chamber of Foreign Trade was not yet considering imposing taxes on exports.

Brazil country is the worlds largest producer of coffee, the second biggest soybean grower and a substantial exporter of sugar and cocoa.

The prospect of increased supplies coming on to the world market after last months devaluation of the real has depressed prices.

• Financial Times 09/02/99 page 32