Bloomberg News

Rain in Producer Areas in Brazil Boosted Coffee Prices, CNC Says

July 06, 2012

Rain in the harvest season in Brazil, the biggest coffee producer in the world, boosted prices on July 3 to the biggest level since May 18, to $1.8045 a pound for the September contract, according to the National Coffee Council, a producing association.

Concerns over the sustainability of world coffee consumption may reduce strength of the price rally, said the association, known as CNC. in a weekly report sent by e-mail today.

Rain in the producing areas also affected the quality of coffee beans and have delayed harvesting, CNC said.

To contact the reporter on this story: Mario Sergio Lima in Brasilia Newsroom at mlima11@bloomberg.net

To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net


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