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Coffee growers sell in bid to avoid drop in prices

Monday, June 18, 2012

Coffee growers in Costa Rica and Guatemala, Central America’s second-biggest producer, are stepping up sales on concerns prices will fall further, according to Volcafe, a unit of trader ED&F Man.

Arabica coffee on ICE Futures in New York has fallen 33 percent so far this year as traders sold the futures on anticipation of a record harvest in Brazil, the world’s biggest grower.

Growers in Costa Rica “are interested in selling the last current crop coffees amidst a falling ICE market,” the trader said in the report.

Source: Bloomberg