Coffee Sellers in Brazil Challenge Market View of Bumper Crop
- Biggest arabica cooperative expects third year of weak output
- Arabica futures are at the lowest in 16 months on slack demand
Brazil produces one out of every three coffee bags in the world.
Photographer: Dado Galdieri/BloombergThis article is for subscribers only.
Coffee sellers from the world’s top supplier are pessimistic about their bean supply, disputing market expectations that Brazil will enjoy a bumper crop in the next year.
Cooxupe, the country’s biggest arabica coffee cooperative, expects next year’s harvest to be as weak as the one gathered this year, president Carlos Augusto Rodrigues de Melo said in an interview. That would mean three straight years of disappointing production.