Gourmet Coffees

The executive director, Nestor Osorio, said he saw no signs of any probable increase in production during the current season from any country. This seems a little odd given that many producers are expected to produce more this season compared with last. However, we concede the increases will be marginal and certainly will not make up for the slump in production from Brazil and Vietnam. He also said that prices had dropped during September because of fund long liquidation because of increased activity in the Petroleum markets. Although it is true that the funds were very active in the energy markets it is highly unlikely they would need to liquidate positions in one market to fund another. Like many Osorio has been surprised by the markets recent weakness and seems to be trying to talk levels higher. It does look as if his next report could be more positive.