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The current price of coffee futures on the commodities market has, as of writing this, dipped just below the $.91 mark, bottoming out thus far today at 90.88 cents<\/a>. It is sadly no longer news when the C price hits a new low; the only number that seems to be increasing is just exactly how long it is has been since the price of coffee was this low. Currently, that number sits at 13 years.<\/p>\n In response to this, some Brazilian farmers are refusing to sell their harvest until there is what Bloomberg calls a \u201cprice miracle.\u201d<\/a><\/p>\n As the article notes, a record crop from the past season has helped usher in the historically low prices, and with a similar yield expected this year, hedge funds\u2014the people who obviously should be in charge of making coffee valuations\u2014are \u201cwagering on further declines.\u201d With the threat of even lower prices looming, Nelson Salvaterra of Rio de Janeiro\u2019s Coffee New Selection tells Bloomberg that many farmers are \u201choarding their beans\u201d in hopes of a \u201cmiraculous\u201d recovery in the C price.<\/p>\n The numbers back up Salvaterra\u2019s claim. In March, green coffee exports dropped by 20%, to 2.6 million bags\u2014roughly 156 million kilos or 343.2 million pounds\u2014where it is expected to remain in April. The amount that was shipped, according to Salvaterra was only to \u201c[cover] previously agreed upon contracts.\u201d<\/p>\n In the short term, withholding coffee is \u201cdoing more harm than good.\u201d Though the prices have increased due to the artificial shortage, it is setting the price higher for Brazilian coffee than that of other countries, further slowing the export rate. But for the farmers, the hope is that they can hold off on selling their crop until the price rebounds. But for this gambit to pay off, the C price of coffee will have to do something it hasn\u2019t reliably done in a long time: it will have to increase.<\/p>\n Let’s hope their gamble pays off.<\/p>\n Zac Cadwalader<\/a>\u00a0is the managing editor at Sprudge Media Network and a staff writer based in Dallas.\u00a0Read more Zac Cadwalader\u00a0on Sprudge<\/a>.<\/em><\/p>\n Top image \u00a9 Adobe Stock\/Paulo Vilela<\/em><\/p>\n The post Facing Historically Low Prices, Brazilian Farmers Aren’t Selling Their Crop<\/a> appeared first on Sprudge<\/a>.<\/p>\n Source: Coffee News<\/p>\n","protected":false},"excerpt":{"rendered":" The current price of coffee futures on the commodities market has, as of writing this, dipped just below the $.91 mark, bottoming out thus far today at 90.88 cents. It…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[26],"tags":[63,27,65,33,61,32,59,31,30],"_links":{"self":[{"href":"https:\/\/thecurbkaimuki.com\/rest\/wp\/v2\/posts\/2049"}],"collection":[{"href":"https:\/\/thecurbkaimuki.com\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thecurbkaimuki.com\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thecurbkaimuki.com\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thecurbkaimuki.com\/rest\/wp\/v2\/comments?post=2049"}],"version-history":[{"count":0,"href":"https:\/\/thecurbkaimuki.com\/rest\/wp\/v2\/posts\/2049\/revisions"}],"wp:attachment":[{"href":"https:\/\/thecurbkaimuki.com\/rest\/wp\/v2\/media?parent=2049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thecurbkaimuki.com\/rest\/wp\/v2\/categories?post=2049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thecurbkaimuki.com\/rest\/wp\/v2\/tags?post=2049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}