Will Uganda Coffee farmers benefit from the crop failure in Brazil?

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Liffe Robusta coffee futures closed slightly higher across the board on Thursday. March position closed at $2128 per tonne gaining $ 2 from the previous closing, while Mayposition closed at $2159 per tonne gaining $ 2 from the closing of Friday.

Weather reports from the leading conilon robusta coffee state of Espirito Santo in Brazil continue to forward disturbing news with the forecasted rainfall for last week proving to be lower than expected.

This supports the earlier forecasts for Brazil to encounter another dismal and potentially deficit conilon robusta coffee crop this year, but so far, the decision by the Brazil government on the possibility of allowing imports of robusta coffees to supplement their domestic roaster demands for these coffees, has been further delayed.

ICE Arabica coffee futures closed a bit higher on Thursday. March position closed at US cents 145.75 per lb gaining US Cents  0.55 while May position closed at US cents 148.15 per lb  gaining US Cents 0.55 from the closing of Friday.

In Brazil, after the recent rains, dryness is expected across the majority of the coffee belt in the coming weeks while Colombia and Central America enjoy good conditions.

Source: Uganda Coffee Development Authority

 

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