Brazilian arabica coffee prices kept firm during January, due to growers' retreat. The CEPEA/ESALQ Index for arabica type 6, delivered in Sao Paulo (capital) closed at 270.92 reals or 154.02 dollars per bag of 60 kilos on Thursday, Jan 31st, upping 3.6 percent in Real over Dec 28th. Trades moved slowly, since a great part of growers remains betting on higher prices. In this month, the weather conditions have been helping the development of the culture.
In the international market, the arabica contracts that expire in March increased 3.8 percent between Dec 28th and Jan 31st, closing at 138.15 cents of dollar per pound at the ICE Futures (New York Board of Trade). Another reason for the downward trend was the higher volume of the product in stock in the United States. From November to December 2007, inventories increased 56,985 bags, totaling 5,465,827 bags.
For the robusta, on the other hand, futures increased and the domestic market moved at a better pace during January. The CEPEA/ESALQ Index for type 6, in the origin Espirito Santo state, increased 2 percent in Real, averaging 211.14 reals or 120.03 dollars per bag on Friday, Jan 31st.