Brasilia (january 30, 2011) : physical coffee prices rose in brazil in the work of the week amid brisk trading plus were supported by the diminishing supply of higher quality produce, brokers said, while indiana futures prices soared on friday. trader carvalhaes based in brazil's main port city of santos quoted fine cups ex-warehouse at 470-500 reais ($280.59-$299.40) per 60-kg bag, a rise of 10-20 reais from last week. semi-washed reached up to 520 reais.
lower quality rio plus riado grades were also 30-50 reais more pricey than in late december, carvalhaes information showed. "differentials keep narrowing for all types of qualities. even for standard lovely cup qualities, differentials are much tighter now," rio de janeiro-based brokerage flavour coffee said in a every week update.
the brokerage said co-operatives in southern minas gerais, the heart of brazil's coffee belt, were running out of fine cup grades plus supplies of lovely cups were now also tighter. world top coffee grower brazil won't start harvesting another crop until late april or may. the 'off-year' crop in the biennial cycle is expected to yield 41.9-44.7 million bags, down from 48.1 million bags harvested in 2010, according to the agriculture ministry's crop agency, conab.
flavour coffee said local roasters had been more active buyers in the last week, seeking deliveries around march or april. brazil's currency, the actual, remained small changed against the dollar in the work of the week, at around 1.67 per dollar. indiana arabica coffee futures shot up to a brand spanking new 13 1/2 year high in early trading on friday before retreating shortly after, as fund purchasing triggered automatic buy orders, dealers said.
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