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Coffee Update
Brazil

According to reports, the Agriculture Minister of Brazil announced on February 28, 2002, that the government will provide $292 million in credit to coffee growers who choose to store this year's coffee crop until next year. According to the Minister, the funds should finance the storage of 7-8 million bags of coffee. The credit is being provided through Funcafe, the government's coffee development fund, and will be made available in 3 tranches starting in April.

Brazil continues to offer government-owned stocks through its auction system. Auctions began again in July after being suspended following the March 14 auction. The remaining schedule for 2002 is: March 20, April 17, May 15, June 12, July 10, August 14, September 11, October 9, November 13, and December 11. The auctions will each be for 20,000 60-kilogram bags.

Brazil: Auctions of Government-Owned Coffee Stocks
Date of Auction	Quantity Offered	Quantity Sold	Price Range
	--------60-kilogram bags--------		Brazil reais/bag
2001
March 14	135,866	38,721	84.00-99.30
July 11	20,000	19,715	avg. 94.36
August 15	20,000	17,267	avg. 90.89
September 12	20,000	18,214	avg. 75.00
October 17	13,949	20,000	68.00-68.20
November 14	13,170	20,000	avg. 75.73
December 12	20,000	14,331	avg. 76.58
2002
January 16	20,000	17,724	53.50-76.50
February 20	20,000	19,184	55.00-85.00

United States

U.S. coffee stocks at the end of January totaled 5.4 million bags, down 16,985 bags from the December 31, 2001, level. Details follow in 60-kilogram bags:

Location	December 31	January 31	Difference
New York	1,305,929	1,329,344	23,415
New Orleans	2,231,173	2,136,444	(94,729)
Jacksonville	216,524	203,780	(12,744)
Miami	978,771	978,731	(40)

Houston	157,805	179,607	21,802
Laredo	48,161	75,509	27,348
Port Everglades	9,750	8,700	(1,050)
San Francisco	227,074	226,718	(356)
Los Angeles	1,645	2,004	359
Seattle	0	0	0
Norfolk	214,985	233,584	18,599
Philadelphia	6,488	6,899	411
Baltimore	0	0	0
Total	5,398,305	5,381,320	(16,985)

Last modified: Sunday, March 17, 2013