Coffee Prices Drop 20% in Past Month

July 23, 2004

AFTER six months of rising prices,international coffee prices dropped 20%in the past month following predictionsthere will be no freezing during Brazil’snext harvest.Brazil is the world’s largest coffee producer.Its production level can dramaticallyaffect global prices. The news from Brazilcrushed hopes that a worldwide productionsurplus, which has caused low internationalcoffee prices since 1998, would subsideduring the upcoming harvest.Abundant production in Vietnam, theworld’s second-largest producer of coffee,also contributed to the low prices.

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