| United States Department of Agriculture |
| Circular Series FTROP 2-98 |
| June 1998 |
World Markets
and Trade
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Tropical
Products: World Markets and Trade |
Brazil's arabica coffee prices on the New York spot market have declined steadily since January 1998, in response to increasing supplies and the prospects of a larger crop in Brazil. In May 1998, the New York spot price for Brazil's arabica coffee was $1.25 per pound, down 12 percent since April 1998, and down 41 percent from the May 1997 level. Brazil's coffee production during 1998/99 is forecast at 35.8 million bags, up 52 percent over the estimated 1997/98 level. Exportable supplies of coffee from the world are forecast at 81.7 million bags in 1998/99, up 17 percent, or 12.1 million bags over the preliminary 1997/98 level.
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