Vietnam, the biggest coffee producer after Brazil, exported 10 percent less last month than forecast, figures from Vietnam’s General Statistics Office showed. Output from El Salvador will be 1.075 million bags in the year ending Sept. 30, less than an earlier forecast of 1.52 million, the U.S. government’s Foreign Agricultural Service said in a report. “News from Vietnam and El Salvador is helping the market,” said Adam Klopfenstein, a senior market strategist at broker Lind-Waldock in Chicago. “Also, the broader market is rising.Arabica coffee is grown mainly in Latin America and brewed by specialty companies including Starbucks Corp. Robusta beans, used in instant coffee, are harvested mostly in Asia and parts of Africa.
Coffee crops in Brazil, the world’s largest producer and exporter, may be harmed by frost next week as a cold air mass approaches the southeast part of the country, Expedito Rebello, the head of research at the government’s Meteorology Institute said on May 24.
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