date:Apr 14, 2014
Brazilian coffee industry association Abic said that the country has enough coffee stocks to meet the local demand and supply exports even though the extent of the damage to crops due to a drought remains unclear.
The association had initially estimated a crop of 47 million 60kg bags, while market participants say that the damage to supplies will be made up by a global surplus of almost five million bags, reported Reuters.
Given the current scenario, the price of arabica coffee has almost doub