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Showing posts from October 29, 2010

Coffee Supply May Tighten on Indian Delay, Lower Vietnam Output

By Thomas Kutty Abraham Bloomberg October 29, 2010 Global coffee supplies may tighten after an Indian exporters’ group forecast a delay in harvesting because of extended rains and an industry association in Vietnam said that production may decline, potentially boosting prices. India’s harvest may begin from the middle of November, about three weeks later than normal, Ramesh Rajah, president of the Coffee Exporters Association of India, said in an interview. Separately, Nguyen Van An, a board member of the Vietnam Coffee and Cocoa Association, said today by phone that output may drop as much as 3 percent to 1.1 million metric tons in 2010-2011. The forecasts may extend rallies in arabica, which jumped to a 13-year high this week, and robusta, at the highest in more than two years. Prices have jumped on concerns that unfavorable weather in Latin America and Vietnam, and delays at Brazil’s Santos Port are curbing supplies. Vietnam is the biggest robusta producer and India is Asia...