Futures rising give support to Brazilian prices

Brazilian coffee prices increased in the last days, supported by the higher international prices. The CEPEA/ESALQ Index for arabica coffee (type 6, delivered in São Paulo) moved up 3.43 in the accumulated of October, averaging 113.29 dollars per bag of 60 kilos on Oct 31.

At the New York Board of Trade (Nybot), arabica coffee futures were settled at 110.55 cents of dollar per pound this Thursday, up 2.74 percent in relation to the previous Thursday.

In general terms, however, trades keep moving at a slow pace in Brazil. Growers remain retreated, waiting for better prices. According to analysts, this valuation is expected to happen in January or February of 2007, when the main producing countries should be in the off-season period. Besides that, Brazil should harvest a lower production volume in the next year, due to the biannual cycle of the coffee.

In the robusta market, prices keep firm, even with the beginning of harvest activities in Vietnan, the main global producer of this variety. The Index averaged 89.14 dollars per bag of 60 kilos on October 31, up 4 percent in the month.

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