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CEPEA: Brazil’s Robusta Harvest Complete, But Sales Remain Limited
CoffeeNetwork (New York) – According to Brazil’s Center of Advanced Studies in Applied Economics (CEPEA), the 2017-2018 Robusta harvest is practically complete in Brail but sales remain limited even with prices rising as high as R $ 400/bag.
Last Friday, August 4th, the CEPEA / ESALQ indicator of Robusta, type 6, sieve 13 above, was R $ 416.39/bag, down 0.08% from the previous week.
Cepea also points out that throughout the month of July, availability of Robusta coffee in the market was also low. "Many producers were expecting prices to rise sharply to close deals, however, they were trading only when they needed cash flow. With the limited sellers and weakened demand, Robusta prices fluctuated slightly during the month."
According to estimates by the consulting company Safras & Mercado, the Robusta coffee harvest is in the final stretch, around 98% of the harvest as of August 1st, which corresponds to an increase of 2 percentage points compared to last week. However, at the same time last year, the harvest had already been completed.