2024 Author: Jasmine Walkman | [email protected]. Last modified: 2023-12-16 08:29
This year's dry summer in Brazil could be catastrophic for the production of Arabica and Robusta coffee, which are the most popular varieties in the world.
The countries in the country that grow citrus fruits, on the other hand, complain about the heavy rains during the year, which have had a bad effect on their harvest.
Temperature amplitudes have been high over the years, affecting most producers, according to the country's authorities. However, the greatest damage was inflicted on coffee, orange and sugar cane plantations.
For the market, this could mean a shortage of products and an increase in their value.
Given that Brazil is the largest producer of the three cypins, it is no surprise that investors from around the world are predicting a sharp jump in their prices in the coming months.
For the past four years, sugar and oranges have been sold at their highest possible values, according to Bloomberg. Arabica coffee has also registered higher prices since February last year.
Florida, the world's second-largest exporter of oranges, also complained of a low 2016 harvest. Fruit growers in the US say the disease has destroyed much of the plantation this year.
This is not a short-term phenomenon, but real supply constraints, analysts told Altegris Advisors.
Higher prices of oranges are expected in the coming months, and in a few weeks, according to forecasts, there will be a jump in sugar prices.
Commodity exchanges in New York say that the Arabica variety will maintain its price levels until the end of 2016, but next year it is likely to rise by up to 19%.
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