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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 368.31+0.6%Nov 7 4:00 PM EST
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To: elmatador who wrote (43632)12/8/2008 9:36:58 AM
From: Haim R. Branisteanu  Read Replies (2) of 217639
 
Brazil Coffee Output May Fall 22% on Credit Crunch (Update1)

By Katia Cortes and Carlos Caminada

Dec. 8 (Bloomberg) -- Coffee output in Brazil may drop as much as 22 percent next year as tight credit markets and falling prices make it harder for farmers to buy fertilizers, Agriculture Minister Reinhold Stephanes said. Coffee futures surged in New York.

Growers in Brazil, the world’s biggest coffee producer, may harvest as little as 36 million bags next year, down from 45.99 million this year, Stephanes said today at a news conference in Brasilia. A bag of coffee weighs 60 kilograms (132 pounds).

Coffee futures for March delivery rose 4.9 cents, or 4.7 percent, to 108.10 cents a pound at 8:52 a.m. on ICE Futures U.S. in New York, after earlier rising as much as 5.1 percent.

Output is also falling as trees enter the slower half of a two-year cycle, Stephanes said.

To contact the reporter on this story: Katia Cortes in Brasilia at kcortes@bloomberg.net; Carlos Caminada in Sao Paulo at at ccaminada1@bloomberg.net.

Last Updated: December 8, 2008 09:03 EST

Elmo any remarks on those great news? Lula sleeping at the wheel .... or looking to much after to many curvaceous pretty women with Angolan ancestry
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