“The quality is pretty bad, too, with a high percentage with a lot of defects,” Coocafe President Fernando Romeiro de Cerqueira said in the article.
Rain in Brazil will affect coffee harvests for as long as four to five days and could diminish the quality of the beans, leaving the harvest with a bitter taste, reports Nigel Hunt for Reuters. Additionally, there was also concern about the effects on next year’s crop.
“Good rains now, if they materialise, will promote a premature flowering for the 2015/16 season,” an European analyst said in the Reuters article. “August is the driest month of the year, so you will not get the follow on rains in August to sustain that flowering. The 2015/16 crop is going to take another sizable hit in the next month if these rains materialize.”
iPath Dow Jones-UBS Coffee Total Return Sub-Index ETN
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Max Chen contributed to this article.