Friday, July 05, 2013

Remember when CO2 was going to cause coffee to go extinct? Now global output has exceeded demand for a fourth year, prices are getting "crushed", and in Brazil "there isn’t enough space to store it all"

Coffee Crushed as Slumping Real Spurs Brazil Sales - Bloomberg
With global output exceeding demand for a fourth year, accelerating sales will drive prices down 11 percent to $1.08 a pound by Dec. 31, according to the median of 18 analyst estimates compiled by Bloomberg.

“The lower real will most certainly help exports, making Brazil a much more aggressive seller,” said Rasmus Wolthers, a trader at Wolthers & Associates, a brokerage in Santos, Brazil. “There’s a lot of coffee in Brazil, and there isn’t enough space to store it all, so producers will have to sell. I expect to see much more aggressive sales offers.”
Arabica, the most-consumed coffee, tumbled 61 percent on ICE Futures U.S. in New York since reaching a 14-year high in May 2011
2012:  Coffee Extinction In The Wild, Spurred By Climate Change, Could Occur By 2080, Study Says
To generate their predictions, the researchers used a computer


alanstorm said...

So the warmists were wrong...again?


Anonymous said...

Do you honestly not understand the differences between cultivated and wild coffee and 2013 and 2080?

Tom said...

We're already a couple of hundred years past the dawn of the Industrial Revolution. If the CO2-induced Coffee Apocalypse is truly coming, shouldn't we be seeing some evidence by now?