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Showing posts from August 6, 2012

Brazil's Cooxupe to halt new coffee exports until September

Existing contracts with Starbucks, Nestle, others honored By Gustavo Bonato Reuters August 6, 2012 SAO PAULO, Aug 6 (Reuters) - Brazil's Cooxupe, the world's largest coffee co-operative, said on Monday that it would halt new spot export business until September, when the current harvest is over and it has a better sense of the supply of top-quality arabica beans. Top-quality arabica beans would only make up about 56 percent of Brazil's total 2012/13 arabica crop due to untimely rains during the harvest period, down from 80 percent in past crops, said Joaquim Libânio Ferreira Leite, Cooxupe's head of sales. "Our house has a reputation for producers of very fine coffees. I can't promise my clients something and tomorrow frustrate them by not delivering," said Leite at an agricultural seminar in Sao Paulo. He said the co-op would continue to deliver on its long-term contracts to buyers such as Starbucks Corp and Nestle SA but s...