Weather conditions drive coffee prices higher
International coffee prices will remain high in a "weather market" given the climatic conditions that prevail in Brazil, the largest producer.
Wednesday, July 9, 2008
Price fluctuations have been sharp this year with the rise and fall of temperatures in the Brazilian winter, since they take into account possible losses due to frost in producing areas, says the Center of Advanced Applied Economic Studies of the University of Sao Paulo.
The Brazilian coffee crop, which could amount to more than 50 million quintals of grain, could put prices back down again.
The price of a quintal has fallen below $200 due to a Brazilian "superharvest", with industry leaders recommending caution.
The futures prices on the New York Stock Exchange fell on Monday July 18.
Farmers expressed concern about the possible entry of Brazilian coffee bean in contract "C" of the NY Stock Exchange.
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