Latest news with #Cooxupe
Reuters
5 hours ago
- Business
- Reuters
Brazil Arabica crop harvest advances but many cherries found on ground, experts say
SAO PAULO, June 27 (Reuters) - Brazil's 2025 Arabica coffee crop harvest is advancing in key areas though lots of cherries have fallen to the ground in some places, two experts told Reuters this week, as more positive production forecasts and lower expected demand suppress prices. Cooxupe, the largest coffee cooperative in the world's top exporter, has harvested just over 24% of the expected crop so far but many ripe cherries in some areas had fallen to the floor, the group's technical development manager, Mario Ferraz de Araujo, said on Thursday. "This will definitely affect the quality of this coffee," he said, citing earlier flowering plants as among the most affected. The harvest is well advanced in some regions though some producers are waiting for later-ripening varieties to mature before getting started, Jonas Ferraresso, a coffee agronomist who advises Brazilian farmers, said on Wednesday. The issue of fallen cherries was also prevalent in Ferraresso's findings. "The concern is that in some regions, these fallen cherries have been on the ground for over 40 to 60 days. With recent rainfall and high soil moisture, there is a risk that the cherries may germinate before collection," he said, adding that germinated coffee cannot be sold and is worthless. Some places in the states of Sao Paulo, Minas Gerais, and Parana have reported light to moderate frost, Ferraresso said, adding a full assessment of the damage will take a few days. Videos shared among coffee farmers in the south of Minas Gerais and seen by Reuters showed the leaves of some coffee plants covered in frost. Overall, better production estimates and falling demand have pushed Arabica prices down 17% over the last three months, Carlos Mera, head of agricultural commodity markets research at Rabobank, said in a research note on Tuesday. However, even as the 2025 harvest gains pace, the outlook for selling it is anyone's guess, he added. "Farmers are well capitalized, and they will probably wait to see if there is any frost risk over the Southern Hemisphere winter or any dry and hot weather pattern that may affect the next flowering process before becoming keen sellers," Mera said.
Yahoo
4 days ago
- Business
- Yahoo
Slack Rain and Frost Threats in Brazil Push Coffee Prices Sharply Higher
September arabica coffee (KCU25) Monday closed up +11.50 (+3.65%), and July ICE robusta coffee (RMN25) closed up +99 (+2.55%). Coffee prices recovered from early losses Monday and rallied sharply. Short covering emerged in coffee futures Monday due to below-normal rainfall in Brazil, following a report by Somar Meteorologia that Brazil's largest arabica coffee-growing area, Minas Gerais, received no rain during the week ended June 21. Coffee Prices Rebound on Slack Rain in Brazil Cocoa Prices Surge as Ivory Coast Cocoa Exports Slow Sugar Prices Pressured by the Outlook for Adequate Supplies Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Gains in coffee prices accelerated Monday due to the risk of frost in Brazil. Meteorologist Rural Clima said that below-normal temperatures and threats of frost are possible in Brazil over the next 72 hours, which could affect the coffee-growing regions of São Paulo and Minas Gerais. Coffee prices have been under pressure over the past seven weeks, with arabica coffee falling to a 5-1/4 month low last Wednesday and robusta sliding to a 13-month low today due to concerns about higher coffee production and ample supplies. Brazil's ongoing coffee harvest is weighing on prices as Safras & Mercado recently reported that Brazil's 2025/26 coffee harvest was 35% complete as of June 11, slightly behind last year's comparable level of 37% but in line with the 5-year average of 35%. The breakdown showed that 49% of the robusta harvest and 26% of the arabica harvest were complete as of June 11. Brazil's arabica harvest has been slowed by heavy rain in some areas. Meanwhile, Brazil's Cooxupe coffee co-op announced last Wednesday that its members reported the coffee harvest was 17.8% complete as of June 13. Cooxupe is Brazil's largest coffee cooperative and Brazil's largest exporter of coffee. On May 19, the USDA's Foreign Agricultural Service (FAS) forecast that Brazil's 2025/26 coffee production will increase by 0.5% year-over-year (y/y) to 65 million bags and that Vietnam's 2025/26 coffee output will rise by 6.9% y/y to 31 million bags. Brazil is the world's largest producer of arabica coffee, and Vietnam is the world's largest producer of robusta coffee. Robusta coffee prices have underlying support as ICE-monitored robusta coffee inventories fell to a 1-month low Monday of 5,137 lots. In a bearish factor for arabica prices, however, ICE-monitored arabica coffee inventories rose to a 4-1/2 month high of 892,468 bags on May 27 and were modestly below that high at 865,898 bags as of Monday. Smaller coffee exports from Brazil are bullish for prices. Last Wednesday, Cecafe reported that Brazil's May green coffee exports fell by -36% y/y to 2.8 million bags. Due to drought, Vietnam's coffee production in the 2023/24 crop year decreased by 20% to 1.472 MMT, the smallest crop in four years. Also, Vietnam's General Statistics Office reported that 2024 Vietnam coffee exports fell -17.1% y/y to 1.35 MMT. Last Tuesday, Vietnam's National Statistics Office reported that Vietnam's 2025 Vietnam's Jan-May coffee exports are down -1.8% y/y to 813,000 MT. In addition, the Vietnam Coffee and Cocoa Association on March 12 cut its 2024/25 Vietnam coffee production estimate to 26.5 million bags from a December estimate of 28 million bags. Conversely, the USDA's FAS on May 19 projected that Vietnam's 2025/26 robusta coffee crop would climb +7% y/y to a 4-year high of 30 million bags. The USDA's biannual report on December 18 was mixed for coffee prices. The USDA's Foreign Agriculture Service (FAS) projected that world coffee production in 2024/25 will increase +4.0% y/y to 174.855 million bags, with a +1.5% increase in arabica production to 97.845 million bags and a +7.5% increase in robusta production to 77.01 million bags. The USDA's FAS forecasts that 2024/25 ending stocks will fall by -6.6% to a 25-year low of 20.867 million bags from 22.347 million bags in 2023/24. For the 2025/26 marketing year, Volcafe projects a global 2025/26 arabica coffee deficit of -8.5 million bags, wider than the -5.5 million bag deficit for 2024/25 and the fifth consecutive year of deficits. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
New Indian Express
25-04-2025
- Business
- New Indian Express
Labour group sues Starbucks, saying it ignores slave-like conditions for workers in Brazil
A labor rights group sued Starbucks on Thursday, alleging that it sourced coffee from a major cooperative in Brazil whose member farms were cited for keeping workers in slave-like conditions. International Rights Advocates filed the lawsuit in US District Court in Washington on behalf of eight Brazilian coffee farm workers. The lawsuit alleges that Starbucks violated U.S. trafficking laws by continuing to buy coffee from Cooxupe even after Brazilian authorities repeatedly cited the cooperative for trafficking and forced labor violations. The plaintiffs — who were not named in the lawsuit because International Rights Advocates said they fear retribution — allege they were lured to farms with the promise of good pay and working conditions. But instead, they were put in filthy housing and the cost of their transportation, food and equipment was deducted from their pay. 'Consumers are paying obscene amounts for a cup of Starbucks coffee that was harvested by trafficked slaves,' said International Rights Advocates founder Terry Collingsworth, who is representing the plaintiffs. 'It is time to hold Starbucks accountable for profiting from human trafficking.' Starbucks said Thursday that the lawsuit's claims are without merit. The company said it only purchases coffee from a small fraction of Cooxupe's 19,000 coffee farm members. All of Starbucks' coffee comes from farms whose labor and environmental practices meet the company's standards, it said. Starbucks said its verification program was developed by outside experts and includes regular third-party audits. 'Starbucks is committed to ethical sourcing of coffee including helping to protect the rights of people who work on the farms where we purchase coffee from,' the company said in a statement. Cooxupe said Thursday that it was not part of the lawsuit and doesn't have access to it.
San Francisco Chronicle
24-04-2025
- Business
- San Francisco Chronicle
Labor group sues Starbucks, saying it ignores slave-like conditions for workers in Brazil
A labor rights group sued Starbucks on Thursday, alleging that it sourced coffee from a major cooperative in Brazil whose member farms were cited for keeping workers in slave-like conditions. International Rights Advocates filed the lawsuit in U.S. District Court in Washington on behalf of eight Brazilian coffee farm workers. The lawsuit alleges that Starbucks violated U.S. trafficking laws by continuing to buy coffee from Cooxupe even after Brazilian authorities repeatedly cited the cooperative for trafficking and forced labor violations. The plaintiffs — who were not named in the lawsuit because International Rights Advocates said they fear retribution — allege they were lured to farms with the promise of good pay and working conditions. But instead, they were put in filthy housing and the cost of their transportation, food and equipment was deducted from their pay. 'Consumers are paying obscene amounts for a cup of Starbucks coffee that was harvested by trafficked slaves,' said International Rights Advocates founder Terry Collingsworth, who is representing the plaintiffs. "It is time to hold Starbucks accountable for profiting from human trafficking.' Starbucks said Thursday that the lawsuit's claims are without merit. The company said it only purchases coffee from a small fraction of Cooxupe's 19,000 coffee farm members. All of Starbucks' coffee comes from farms whose labor and environmental practices meet the company's standards, it said. Starbucks said its verification program was developed by outside experts and includes regular third-party audits. 'Starbucks is committed to ethical sourcing of coffee including helping to protect the rights of people who work on the farms where we purchase coffee from,' the company said in a statement. ___ Associated Press Writer Mauricio Savarese in Sao Paulo contributed.
Winnipeg Free Press
24-04-2025
- Business
- Winnipeg Free Press
Labor group sues Starbucks, saying it ignores slave-like conditions for workers in Brazil
A labor rights group sued Starbucks on Thursday, alleging that it sourced coffee from a major cooperative in Brazil whose member farms were cited for keeping workers in slave-like conditions. International Rights Advocates filed the lawsuit in U.S. District Court in Washington on behalf of eight Brazilian coffee farm workers. The lawsuit alleges that Starbucks violated U.S. trafficking laws by continuing to buy coffee from Cooxupe even after Brazilian authorities repeatedly cited the cooperative for trafficking and forced labor violations. The plaintiffs — who were not named in the lawsuit because International Rights Advocates said they fear retribution — allege they were lured to farms with the promise of good pay and working conditions. But instead, they were put in filthy housing and the cost of their transportation, food and equipment was deducted from their pay. 'Consumers are paying obscene amounts for a cup of Starbucks coffee that was harvested by trafficked slaves,' said International Rights Advocates founder Terry Collingsworth, who is representing the plaintiffs. 'It is time to hold Starbucks accountable for profiting from human trafficking.' Starbucks said Thursday that the lawsuit's claims are without merit. During Elections Get campaign news, insight, analysis and commentary delivered to your inbox during Canada's 2025 election. The company said it only purchases coffee from a small fraction of Cooxupe's 19,000 coffee farm members. All of Starbucks' coffee comes from farms whose labor and environmental practices meet the company's standards, it said. Starbucks said its verification program was developed by outside experts and includes regular third-party audits. 'Starbucks is committed to ethical sourcing of coffee including helping to protect the rights of people who work on the farms where we purchase coffee from,' the company said in a statement. Cooxupe said Thursday that it was not part of the lawsuit and doesn't have access to it. ___ Associated Press Writer Mauricio Savarese in Sao Paulo contributed.
