Home > Boards > The Lounge > Coffee Shop > Julius Briner

The Executive Director of the International Coffee Organization

Public Reply | Private Reply | Keep | Last ReadPost New MsgPrevious | Next
thomas1234 Member Profile
Followed By 0
Posts 12
Boards Moderated 1
Alias Born 09/09/09
160x600 placeholder
GM, LG Chem Venture Plans Second $2.3 Billion Battery-Cell Plant
By Colin Kellaher
U.S. Consumer Sentiment Extends Gains to Early April -- University of Michigan
PNC Financial Services Guides for Stable Average Loans in 2Q
Stocks Rise After S&P 500 Hits Record
The FedEx Shooting in Indianapolis: What We Know
Correction to Bank of New York Mellon Earnings Article
Covid-19's Toll on U.S. Business? 200,000 Extra Closures in Pandemic's First Year
Caterpillar Adds Cargill's MacLennan to Board as Gallardo, Osborn Retire
Stock Futures Edge Up After S&P 500 Hits Record
Form 8.3 - Willis Towers Watson Plc
U.S. Designates Taiwan a Currency Manipulator
Mercedes-Benz Faces an Open Road Today, Traffic Tomorrow -- Heard on the Street
Correction to Bank of New York Mellon Article
U.S. Housing Starts Rebounded in March
Flutter Entertainment Mulls Oddschecker Sale -Sky News
Top Company News of the Day
London Stock Exchange Likely to Face Shareholder Revolt Over CEO Pay Raise -Sky News
Sampo Oyj Sampo Plc: Disclosure Under Chapter 9 Section 5 Of The Securities Market Act (BlackRock, Inc.)
Morgan Stanley Books Archegos Loss, But Profit Hits New High -- Update
Net Charge-Off Rates at Banks Largely Fall
Multiple People Shot at FedEx Facility in Indianapolis -- 2nd Update
Bugatti Chiron Pur Sport: An Immodestly Fast Ride
Morgan Stanley First-Quarter Profit Soars
PepsiCo, Maple Leaf Foods Strike Distribution Deal for Schneiders Pepperettes Meat Sticks in Canada
Stock Futures Steady After S&P 500 Hits Record
PNC Financial 1Q Profit Rises, Revenue Falls
Bank of New York Mellon 1Q Profit, Revenue Fall
To Win Electric-Vehicle Wars, Europe's Auto CEOs Want More Taxes on Gas Guzzlers
thomas1234   Wednesday, 10/07/09 04:23:47 PM
Re: None
Post # of 7 
The Executive Director of the International Coffee Organization (ICO), Nestor Osorio, urged coffee producers to focus attention on increasing yields by “promoting renovation of existing coffee plantations.”

He was speaking at the inauguration of the three-day India International Coffee Festival (IICF) here on Wednesday.

Speaking to The Hindu, Dr. Osorio said international coffee prices were likely to remain firm in the next coffee year (October-September) because demand and supply were “evenly balanced.” “The average price is now in tune with market fundamentals,” he remarked.

Dr. Osorio said coffee growers across the world had been adversely affected by the spike in fertilizer prices and the sharp devaluation of the U.S. dollar vis-a-vis the currencies of producer countries. “The price recovery has been nullified by the dollar’s slide,” he said.

Global output
The ICO estimates that international coffee output in the 2008-09 season to be about 128-130 million bags (of 60 kg each), roughly equal to the demand amounting to 130 million bags. Dr. Osorio said the only inventory of coffee was the stocks of about 25 million bags in the hands of the consuming segment at ports. Chairman of the Coffee Board G. V. Krishna Rau said that although India’s share in exports was only four per cent, the diversity and quality of Indian supplies “offer a relative advantage and unique opportunity to growers.” Indian output of coffee in the 2009-10 season is likely to touch 3 lakh tonnes, from 2.62 lakh tonnes in the previous year.

Mr. Rau said there was an “urgent need” to develop coping strategies to deal with the impact of climate change. Heavy and unseasonal rains, coupled with uncertain weather, have caused significant crop damage to the coffee crop in successive years since 2006, he pointed out. V.G. Siddhartha, Chairman, ABC Trading, urged the industry to invest in coffee processing technology so that productivity could be increased. The festival was inaugurated by S. V. Ranganath, Chief Secretary, Government of Karnataka.

Public Reply | Private Reply | Keep | Last ReadPost New MsgPrevious | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
Current Price
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences