From Origin

Brazil High Quality Coffee Suffers, Burning Some Traders

From: money.usnews.com

LONDON/SAO PAULO (Reuters) – Brazil is producing less top quality coffee this year despite a bumper crop overall because of unusual pre-harvest weather, burning some traders counting on the beans, said industry sources.

The market for Brazilian fine cup arabicas is tighter than normal, causing a premium for the origin over New York futures, which is particularly rare this time of the year, said traders, who requested anonymity to discuss the market-sensitive matter.

“Some trade houses are scavenging the market. Those coffees are trading at a premium to New York and it’s only July. It’s going to be a long, painful season for these folks,” said a London-based trader.

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