Costa Rican Coffee Association says the upcoming coffee harvest season
According to a report released by the Costa Rican Coffee Association (ICAFE), it is expected that during the upcoming coffee harvest season from October this year to September next year, Costa Rican coffee production will increase by 4.5% compared with the same period last year, and the rise in coffee prices will slow down, according to the Efi news agency. In the last two harvest seasons, Central American countries, including Colombia, have greatly reduced coffee production due to the serious impact of coffee rust, causing the price of Arabica coffee to rise by nearly 80% in the international market.
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November Robusta coffee futures climbed 21 U.S. dollars, or 1 percent, to close at 2048 U.S. dollars per ton.
Gold investment futures on August 28th, London International Financial Futures Exchange (LIFFE)-November Robusta coffee futures climbed 21 US dollars, or 1%, to close at 2048 US dollars per ton. Arabica coffee futures rose above $2 on Wednesday, extending the previous day's rally on concerns about production in Brazil, the largest producer of coffee beans. Cocoa futures fell after rising sharply in the first minute of trading, hitting
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Chaotic weather in Brazil makes coffee futures soar 77%.
The continuing drought has hit Brazil's coffee industry hard. However, the weather is likely to be even worse next year, when Brazilian coffee production will fall for the first time since 1965 for three consecutive years. On Wednesday, Bloomberg News quoted the Brazilian National Coffee Council as saying that Brazilian coffee bean production would fall 18% to 40.1 million bags at the end of the harvest season next month. Each bag is 60 kilos. Last year's production
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