Nicaragua coffee exports down: Nicaragua exported 325,325 quintals of coffee from October 1 to February 11, down 4.40 per cent from the 97/98 crop year's the Nicaraguan Coffee Commission (Conicafe). The levels, in line with some industry officials' arguments that initial low export figures was mostly due to a delay in the harvest caused by a severe six-month drought last year. The first half of 1998 was followed by devastating rains and mud slides from long delays and extensive damage po key coffee growing areas. Nicaragua's total coffee production was lost in from Mitch, America and ravaged northern coffee-growing areas. But another 20 to 25 lost due to infrastructure damage which hinders and delays the harvest an` quality making the coffee unfit for exports, Conicafe said.Ivorian cocoa arrivals lower: Ivorian 1998/99 (Oct-Sept) cocoa arrivals at ports stood at around 857,000 tonnes by February 8, against 865-878,000 by Febrary 8, 1998, industry sources said. Some 22,000 tonnes had arrivedat ports between February 1 and February 8, compared with around 30,000 tonnes the previous week. The latest arrivals figure compared with almost 900,000 tonnes in the record 1.2 million tonnes 1995/96 season.
Arrivals had started to tail off as the main crop drew to a close. "There is no more cocoa with the farmers and even if they have, it is only half a bag or 15 or 20 kilos," said one buyer in San Pedro. Farmers and buyers were now turning their attention to harvesting coffee and to the cocoa mid-crop (May-June), which is currently on track for a good, if not record volume. One buyer based in San Pedro has predicted a 1998/99 mid-crop of more than 200,000 tonnes, which would top the 1995/96 record. Another predicted 150,000 tonnes. The 1997/98 mid-crop was about 143,000 tonnes.
Brazil coffee seen down: Leading Brazilian coffee exporter Unicafe forecast Brazil will produce 25.65 million 60-kg bags of coffee in 1999/2000, trading sources said Thursday. Last June, Unicafe pegged 1998/1999Brazilian coffee production at 34.70 million bags. In its first 1999/2000 estimate, which was obtained by Reuters, Unicafe projected that Brazil would produce 21.95 million bags of arabica coffee and 3.7 million bags of robusta coffee. Unicafe confirmed the estimate with Reuters in Brazil. The Brazilian government has estimated 1999/2000 production at 23.15 million bags versus 34.55 million bags the previous season. According to trade sources, private forecaster Leon Yallouz pegged the upcoming crop at 23.7 million to 25.9 million bags, compared with 36.1 million bags in 1998/99. Yallouz has not confirmed or commented on that figure.
Rubber market in dumps: Natural rubber prices had hit a six-year low during the second week of February. Experts see prices crashing further as the demand was thin and the thick supply situation including the huge accumulated stock, which is much more than what the market coan take. The price for the RSS-4 variety touched a record low of Rs 24.50 on February 8. Thisis the lowest ever price recorded during the last six years was in 1992 May when the average price dipped to the same level of Rs 24.50 per kg. Traders said there was no activity in the market and procurement agencies were watching from the sidelines.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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