Remember when CO2 was going to cause coffee to go extinct? Now global output has exceeded demand for a fourth year, prices are getting “crushed”, and in Brazil “there isn’t enough space to store it all”


By: - Climate DepotJuly 11, 2013 11:31 AM

Remember when CO2 was going to cause coffee to go extinct? Now global output has exceeded demand for a fourth year, prices are getting “crushed”, and in Brazil “there isn’t enough space to store it all”

http://tomnelson.blogspot.com/2013/07/remember-when-co2-was-going-to-cause.html

Coffee Crushed as Slumping Real Spurs Brazil Sales – BloombergWith global output exceeding demand for a fourth year, accelerating sales will drive prices down 11 percent to $1.08 a pound by Dec. 31, according to the median of 18 analyst estimates compiled by Bloomberg.“The lower real will most certainly help exports, making Brazil a much more aggressive seller,” said Rasmus Wolthers, a trader at Wolthers & Associates, a brokerage in Santos, Brazil. “There’s a lot of coffee in Brazil, and there isn’t enough space to store it all, so producers will have to sell. I expect to see much more aggressive sales offers.”…Arabica, the most-consumed coffee, tumbled 61 percent on ICE Futures U.S. in New York since reaching a 14-year high in May 2011

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