Jose Sierra News
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Colombia, the second-largest supplier of Arabica coffee beans, said the harvest rose 11 percent in April and may continue rising for the rest of this year.
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Colombia’s coffee harvest may decline in 2011 after wet weather caused the worst outbreak of a plant-damaging fungus in a quarter of a century, a growers’ leader said.
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Colombia, the second-largest supplier of Arabica coffee, will produce about 2.6 percent less of the beans than forecast because of wet, cold weather and a lack of sunshine, according to a growers’ leader.
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Colombia’s largest coffee-growing province will harvest a “very small” crop in the first six months after above-average rainfall damaged plants last year, a growers’ leader said.
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Hurricane Irene killed at least 40 people as it moved from the Caribbean through New England, left an estimated $2.6 billion in damage and cut power to almost 8 million homes and businesses along the U.S. East Coast.
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Coffee growers in Colombia, the world’s second-largest producer of arabica beans, said above- average rainfall may damage next year’s crop.
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Arabica coffee rose to the highest price in more than a week as exportable supplies tighten in Colombia, the world’s second-biggest producer. Sugar gained, while cocoa declined.
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Colombia, the second-largest producer of arabica beans after Brazil, forecast above-average rainfall next month for coffee growers in the Andes mountains.
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The biggest rally in coffee in five years may be ending as the prospect of larger harvests spurs hedge funds to pare bets on higher prices, potentially cutting costs for J.M. Smucker Co., Kraft Foods Inc. and Starbucks Corp.
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