Periods of dry weather during plantation and rain at harvest has compromised as much as 40 percent of the quality coffee in Brazil, said the largest producer of the bean, the National Coffee Council.
Brazil’s government told producers that they will have an additional 600 million reais ($296 million) for storage, the council, known as CNC, said in an e-mailed statement. The state of Minas Gerais, one of the biggest producers in Brazil, announced the creation of a fund to help producers, CNC said.
Brazilian producers are “cautious” about selling their beans at the moment to wait for better prices, CNC said.
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