Brazil Coffee Growers Hoard Supply to Boost Price, Tristao Says
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Brazil’s share of the global coffee market may fall as much as 5 percentage points to 35 percent as suppliers withhold stocks and seek above-market prices, Ricardo Tristao of brokerage Tristao Cia. de Comercio Exterior said.
Arabica coffee from Brazil is trading at about a 15-cent premium relative to New York futures, compared with a usual discount of 15 cents, Tristao said in a Jan. 27 telephone interview from the Isle of Man, where the Vitoria, Brazil-based brokerage has a unit. Arabica for March delivery fell 0.7 percent to $2.1595 a pound at 10:05 a.m. on ICE Futures U.S. in New York.