By Heather Walsh Bloomberg July 09, 2010 Exports will drop below last year’s estimated 95.5 million bags and slide from 2008’s 97.7 million bags, ICO Executive Director Nestor Osorio said in an interview yesterday. He didn’t specify the amount or percentage decline expected this year. “There is less coffee available,” Osorio said by telephone from London. “That’s also reflected in the price.” Coffee prices have increased 19 percent this year in New York amid a shortfall that has prompted investment funds to bet on gains, he said. Production in Colombia, the second-largest producer of mild-tasting arabica beans, dropped to a 33-year low in 2009. Colombia may produce less than 9 million bags in the year that began Oct. 1, Osorio said. In the first six months of the year, the crop unexpectedly slid to 4.04 million bags from 4.24 million bags a year earlier, Colombia’s National Federation of Coffee Growers said yesterday. In February, the group forecast output for the period...