Coffee prices fall
On Monday coffee futures fell sharply, weakened by the strengthening US dollar and strong Brazilian exports.
Tuesday, January 6, 2009
According to laprensagrafica.com, "Romain Lathiere, administrator of the Diapason Commodities Management Fund, said that the fall in coffee prices "is related mainly to the US dollar and solid Brazilian exports, which is not good for the coffee market."
The price of coffee fell $25.45 in a month, but the Coffee Institute of Costa Rica (Icafe) insists that this is due to speculation and not due to actual increase in supply.
The price indicator of the ICO composite fell by 1.4% in April, despite a brief recovery having been observed at mid-month, and recorded the lowest monthly average in three years.
The international price of coffee has increased 30% in the past two weeks.
The price of a quintal has fallen below $200 due to a Brazilian "superharvest", with industry leaders recommending caution.
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