Weather boosts Brazil coffee futures

16 November 1999

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.

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