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Brazilian coffee producers to get 2 billion-real loan

By Mario Sergio Lima Bloomberg April 11, 2012 Brazilian coffee producers will be granted a 2 billion-real ($1.09 billion) loan from Banco do Brasil SA, said Silas Brasileiro, president of the National Coffee Council. The loan should be available starting in June before the harvest begins, Brasileiro said today in a telephone interview from Brasilia. Last year, producers began to receive financing after the harvest in September, he said. Brasileiro predicted that coffee prices will end this year at a level close to 2011. Banco do Brasil wasn’t immediately available to comment. The price of arabica beans rose to a 14-year high of $3.089 a pound in   New York   on May 3 as heavy rainfall cut output in   Colombia . Coffee slipped 5.7 percent in New York last year, according to data compiled by Bloomberg. “We never considered retaining coffee,” Brasileiro said. “We want to have a coordinated flow of production.” Arabica coffee futures for May ...