Coffee Prices Reach $215

Volcafé, one of the largest traders in the world, has announced that its production will be 10% lower than the previous season, due to the effects of drought in Brazil.

Wednesday, April 23, 2014

After fluctuating for 4 weeks, the price of contracts with terms of one month for the arabica variety rose to $215 on April 23rd.

Bloomberg reports that "the global harvest, including the variety of robusta beans, will be 11 million bags short of meeting global demand, estimates Volcafe. That means a global deficit which is equivalent to the production of Colombia, the second largest supplier of arabica in the world. ".

The losses amount to 35% of crops south of Minas Gerais, the main producing area of ​​Brazil, said Christian Wolthers, president of Wolthers Douque, an importer in Fort Lauderdale, Florida."

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