Rabobank cuts Brazil coffee production forecast
Rabobank after touring Brazil’s coffee regions,has cuts its 2018/19 crop forecast from 59m 60kg bags to 56.8m citing pest damage .
Brazil’s next coffee crop as estimated by The Brazilian government’s agricultural information agency (Conab)is highest in eight years and a 15 per cent increase from a year before.
“Even though we had expectations for a very good crop in Espirito Santo, the reality was quite different, flagging the spread of mealybug insect pests encouraged by dry weather.”
“Constant rainfall is needed to prevent further expansion [of affected area] before the harvest.”
Coffee prices have been down on expectations of a large Brazilian harvest.
Read more : 1.FT.COM
