Brazilian coffee farmers expect damage to their crops due to frosts in recent da...
CAMPINAS, Brazil - Brazilian coffee farmers expect damage to their crops due to frosts in recent days, but investors are nevertheless keeping their expectations for record production in 2020, generating debate at the 2nd Global Coffee Producers Forum on Wednesday.
Arabica prices rose in New York in the days before the frosts, but fell in the sessions following news of the weather, as investors cashed in gains. Eventual price increases ahead will largely depend on the results of damage assessments. Despite gaining due to frosts, global prices remain near historically low levels, barely covering production costs for many producers.
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