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Central America coffee stockpiled as prices slip

Tuesday, October 30, 2012

Arabica coffee fell to the lowest level in more than four months as the start of the harvest in Central American nations added to rising stockpiles.

Arabica bean inventories in warehouses monitored by the ICE Futures U.S. exchange in New York stood at 2.41 million bags as of October 26, the highest since May 2010.

“The C contract, with certified stocks reaching 2.4 million bags, or an increase of 875,000 bags so far this year, is feeling the effect of the start of the harvest in Central America and little buying interest from the industry,” Rodrigo Costa, a contributor for Sao Paulo-based Archer Consulting, said.

Source: Bloomberg