Brasília – The director of the Coffee Department at the Ministry of Agriculture, Robério Oliveira Silva, said today that the Brazilian product is undergoing a consultancy process for trading to be taken to the New York Stock Exchange.
“Talks for the trading [at the New York Stock Exchange] of huskless cherry Arabica coffee, a finer product, have been going on for 10 years. Now, however, there is interest in the committee at the New York Stock Exchange, which has noticed that Brazil has important participation in the market,” said Silva during a talk regarding crop estimates, of 47 million 60 -kilogram bags.
The lower production in Colombia and in Central America, Brazilian competitors in the coffee market, is causing growth in demand for the Brazilian product among importers. To the Minister of Agriculture, Wagner Rossi, this is an opportunity that the country must make use of now, as it should have its largest crop of the last ten years.
“Picking a high-cycle crop at a moment in which the international market is feeling the lack of good Arabica coffees is an opportunity to occupy greater space in the blends [products resulting from composition of different kinds of coffee],” said the minister.
According to Rossi, the government should be capable of supporting the entire coffee trade. Next week, representatives of the entire productive chain should meet to elaborate joint actions to be implemented. Among the measures evaluated, is the support to the trade of up to 5 million bags of coffee, through auctions, to be used in the establishment of stocks or in sales option contracts.
*Translated by Mark Ament
