Archive for the ‘crop’ Category

Rain In Vietnam Slows Crop Deliveries; Drives prices….

November 10, 2008

By Claudia Carpenter

Nov. 10 (Bloomberg) — Robusta coffee rose for a second day in London on speculation rain will slow shipment of a record crop from Vietnam, the world’s largest grower.

Rains in central and southern Vietnam may disrupt collection and transportation of beans, according to U.S. weather forecaster Meteorlogix LLC. Coffee dropped 22 percent last month as Vietnam began harvesting the crop estimated by the U.S. Department of Agriculture at a record 21 million bags. Commodity prices climbed following gains in crude oil and a drop in the dollar.

“Rains delay the whole process,” said Stefan Uhlenbrock, senior commodity analyst at German research company F.O. Licht. “They do not have in-house drying facilities so they have to more or less dry the coffee outside.”

Robusta for January delivery rose $22, or 1.3 percent, to $1,762 a metric….

Read the rest:
http://www.bloomberg.com/apps/news?pid=20601012&sid=aW9Xp8vyLF_c

By Claudia