Rainfall in Colombia, the world’s second-biggest producer of arabica coffee, is delaying the drying of beans from the smaller of two annual crops that started this month, according to Volcafe.
Production there will “struggle to reach” 7 million bags in the 2011-12 season started in October, Volcafe, the coffee unit of commodities trader ED&F Man Holdings Ltd. said in February. That is down from 7.8 million bags in 2010-11, data from the trader shows. A bag of coffee weighs 60 kilograms (132 pounds).
Growers in Colombia usually harvest the main crop from October to December and the smaller crop, known as mitaca, is collected from April to June.
“The flow of mitaca coffee was rather low due to the Easter festivities and some rains delaying the drying process,” Volcafe said in a report to clients e-mailed today.
Colombian coffee for May and June shipments was trading at a premium of 30 cents a pound to the price on the ICE Futures U.S. exchange in New York, unchanged from last week, Volcafe data showed.
Arabica coffee for July delivery dropped 1.6 percent to $1.8130 a pound by 12:13 p.m. in New York.
To contact the reporter on this story: Isis Almeida in London at Ialmeida3@bloomberg.net
To contact the editor responsible for this story: Claudia Carpenter at Ccarpenter2@bloomberg.net.