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Goldman Sachs cuts Arabica Coffee price forecast by 7.7pct

Posted on 21 October 2013

Goldman Sachs Group cut its price forecasts for Arabica coffee traded in New York by 7.7%, citing favourable weather and the biggest stockpiles of the variety favoured by Starbucks in five years.
The beans traded on the ICE Futures US exchange will be at $1.20 a pound in three, six and 12 months, the bank said in a report e-mailed on Friday. That’s down from last month’s forecast for $1.30 a pound. Arabica coffee futures fell 20% this year on signs of bigger harvests in leading producer Brazil and Colombia, the second-biggest grower of the variety………………………………………..Full Article: Source


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