Flavour Coffee and Cazarini Trading Co. told Bloomberg that many growers were holding onto beans to try to increase demand and boost prices, but that 132-pound (60 kilo) bags are now trading for less than $291, the lowest rate since last August. Prices are down for arabica and robusta beans.
It was “a dramatic and nervous week,” Thiago Cazarini, a broker at Varginha, Brazil-based Cazarini Trading Co., wrote in a report e-mailed to Bloomberg. “Prices dropped in the internal market, with futures coming much lower.”
The full story: Bloomberg News