1631 [Dow Jones] Coffee futures on ICE ended higher, but the rise failed to trigger significant trade in Brazil, the world's No. 1 coffee producer. Average prices for a 60-kilogram bag of arabica coffees in the local spot market Thursday are some 15 Brazilian real, or $9, lower than last week after bean
prices dove early this week, says Gil Carlos Barabach, a coffee analyst at local agricultural consultancy Safras & Mercado. Moreover, Brazil's producers are waiting to see whether rain forecasts in the coming days will be enough to alleviate potential damage to next season's coffee crop, he says. "Having sold a lot of beans already, they can afford to sit back and wait," he says. Arabic coffee for December delivery settled 0.9% higher at $1.8165 a pound.
prices dove early this week, says Gil Carlos Barabach, a coffee analyst at local agricultural consultancy Safras & Mercado. Moreover, Brazil's producers are waiting to see whether rain forecasts in the coming days will be enough to alleviate potential damage to next season's coffee crop, he says. "Having sold a lot of beans already, they can afford to sit back and wait," he says. Arabic coffee for December delivery settled 0.9% higher at $1.8165 a pound.
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