Prices have been under heavy selling pressure since Brazil’s coffee export association Cecafe announced that there were enough coffee stocks held over from the last harvest to allow the country to increase exports by 6% this year, Investing reports.
Cecafe said that Brazil could export 33 million 60-kilogram bags in 2014, compared to 31.1 million last season.
iPath Dow Jones-UBS Coffee Total Return Sub-Index ETN
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