Business Standard November 10, 2011 Global coffee prices are likely to remain at comfortable level during the year 2011-12 with Brazil, the major producing country, going to have a off-year, a top commerce ministry official said. “The production of coffee in Brazil is estimated at 47.2 million bags. As such, it is estimated that during 2010-11 there was a surplus of around 5 million bags, which is expected to refill the inventories in importing countries,” Vijaylaxmi Joshi, additional secretary, ministry of commerce said. Addressing the 53rd annual coffee conference of Karnataka Planters Association and United Planters Association of South India (KPA-Upasi), here on Wednesday, she said the main reason for buoyant prices is attributed to overall tight supply position for the past three years decided by more or less stagnant production and increasing consumption. For the past three years in a row, the global supply situation remained tight triggering the price boom whic...