Financial uncertainties increase grain quotations

Brazilian coffee prices moved up expressively during February, boosted by the international market. The CEPEA/ESALQ Index for the arabica type 6, delivered in Sao Paulo (capital) closed at 291.51 reals or 172.39 dollars per bag of 60 kilos on Friday, Feb 29th, increasing 7.6 percent in Real over Jan 31st. For the robusta type 6, in the origin Espirito Santo state, the Index has raised even more, almost 14 percent in Real during the month, at 239.36 reals or 141.55 dollars per bag. Regarding the weather, rainfalls keep contributing to grains development.

In the international coffee market, quotations increased due to the restricted global supply, higher investments in commodities markets, especially in the coffee one. The argument is that investing in commodities market is more security in this period of uncertainties about the United States economy than trading in the financial market.

On Friday, Feb 29th, the arabica contracts that expire in May closed at 165.25 cents of dollar per pound at the ICE Futures (New York Board of Trade), rising 18.8 percent over Jan 31st. For the robusta, the May/08 upped even more, 28.6 percent in the same period, reaching the highest level in more than 12 years at the London International Financial Futures Exchange (Euronext.Liffe) and closing at 2,735 dollars per ton on Friday. (Cepea - Brazil)

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