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Coffee Holding Company, Inc. Message Board

  • argyle46 argyle46 Apr 26, 2014 2:14 PM Flag

    Some Fear the Coffee Apocalypse on Hand

    April 26, 2014

    "Brazil is the world’s largest producer of coffee. Arabica coffee futures, the most common bean variety sold in the US, have soared nearly 90 percent over the past year, and reached the highest price in two years on Tuesday. The surge was prompted by estimates that Brazil’s arabica crop, which was decimated by this year’s drought, will miss expectations by 18 percent. Overall, the world’s harvest is expected to fall short of demand by 11 million bags, — meaning coffee lovers may be forced to pay more for their morning cup.

    "The last thing we want now in the harvest is rain," said Mauricio Miarelli, 60, a grower from Campos Gerais, in southern Minas Gerais, where some of his beans already are only good for making instant coffee. "If we get El Nino and rain, the quality and output will drop significantly."

    Besides destroying coffee crops, the prolonged drought has wreaked havoc on Brazil’s water and electricity supplies. Now, the nation is bracing for El Niño, which promises an epic downpour that will be even worse for bone-dry coffee plantations. Some regions may lose over a third of their crops."

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