“Growers are holding onto their stocks expecting prices to rise further,” Anil Kumar Bhandari, a member of the board, said in the article. “We should be able to export whatever surplus we have.”
Coffee prices have surged this year due to drought conditions in Brazil, the world’s largest coffee grower. However, coffee prices corrected over the past month on a wetter outlook and ample coffee inventory levels in Brazil. [Caffeine Crash Has Coffee ETN Closing in on Bear Territory]
iPath Dow Jones-UBS Coffee Total Return Sub-Index ETN
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