Drought and frost in Brazil
After worrying news about drought in the Brazilian coffee growing areas, last week frost struck several coffee growing regions.
There is damage but exact amount will be known later, but the NY "C" contract takes the damge seriouly:
We have seen rising prices well above ¢ 200/lb, whereas we saw beginning of this year price hovering around ¢ 130/lb.....
Soon we will have to skip our rebate system for green coffee.