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1. COFFEE PRICE HIT 30-YEAR LOW EXPORTS SUSPENDED.(Rupiah against US dollar)(Brief Article)
Indonesian Commercial Newsletter, September, 2001
The rupiah appreciation against the U.S. dollar has added to the frustration of coffee exporters amid the price fall in the world market. Some exporters even chose not to do any exporting at least for the time being. North Sumatra has stopped exporting robusta coffee since early August because of the low price. Meanwhile, Vietnam and Brazil continue to supply the commodity to the already glutted market.
In the London LIFFE Bourse, the price of coffee was quoted at US$ 550 per ton. The benchmark price for delivery in September, 2001 dropped to US$ 547 per ton or the lowest in 30 years.
Analysts estimated that the robusta coffee market would continue to dive to as low as US$525 per ton in short term. With thin buying action robusta coffee trade in the...
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