Like for other commodities, coffee futures oscillated expressively during the second fortnight of September, due to the turbulences of the financial markets. From September 15th to 30th, arabica contracts that expire in December dropped 6.2 percent at the New York Board of Trade (ICE Futures), closing at 130.45 cents of dollar a pound on Tuesday, Sept 30th. In this scenario, trades moved at a slow pace in Brazil. Growers have limited the grain supply, waiting for a better market definition.
Concerning domestic prices, the dollar appreciation against the Real supported the values in the accumulated of the month. The CEPEA/ESALQ Index for the arabica type 6, delivered in Sao Paulo (capital), averaged 261.72 reals or 137.46 dollars per bag of 60 kilos on Sept 30th, increasing 1.34 percent in Real over August 29th. For the robusta type 6, in the origin Espírito Santo state, the Index upped 0.9 percent in Real, at 217.24 reals or 114.10 dollars per bag. In the same period, the dollar valuated 16.6 percent, closing at 1.904 real on Tuesday.
About robusta crop, new good blooming have opened in most part of fields in Espírito Santo state. For a while, two main flowering have already appeared - the third one is expected to October. In Rondônia, second main producer state of robusta, growers are optimistic about the next season (2009/10). According to agents, the volume should overtake the production in 2008/09 crop. For arabica, growers are focused on the harvest finishing. In the main producer regions, more than 90 percent of the crop was already harvested. (Cepea - Brazil)