It's a Waiting Game
"Coffee in New York soared 7 percent, the most since November, as the second hurricane in less than a month threatened to damage inventories in New Orleans. The price fluctuation was the biggest of any commodity today." This came from an article at KHOU News, Houstonon Tuesday. The problem with things like this is that no one really knows what is going to happen. It is like chess with an opponent that, in know why, will show his cards before you. They also say in this article that the Board of Trade officials plan to visit New Orleans this week if they can get in. This will be a big step as they have yet to see the damaged caused by the first storm. We will to keep waiting to see just what will happen to coffee prices in the future. ~~be bold |
...a thought by Cafe Evoke Coffee Catering at 9/23/2005 05:34:00 AM
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Comments on "It's a Waiting Game"
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Siel said ... (9/24/2005 09:46:00 PM) :
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Jason Duncan said ... (9/25/2005 08:08:00 AM) :
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phil said ... (9/25/2005 04:12:00 PM) :
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Jason Duncan said ... (9/25/2005 07:29:00 PM) :
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Kevin D. Johnson said ... (9/26/2005 08:41:00 AM) :
post a commentI gather from the news reports re: New Orleans that coffee prices will be somewhat higher this year -- at least for specialty coffee -- due to all the coffee that got ruined in the hurricane. No idea about the more long-term effects though -- Personally, I'm a little afraid that coffee farmers will go crazy and start planting way too much coffee -- contributing to a glut (way low coffee prices) in the years to come --
Hi Siel,
I think you have a great point. I am hoping coffee prices do not drop much lower than they have been as they have been fairly low in the recent past. I think you will see a quick recovery from this and that futures will cover for the losses.
I think most farmers are at capacity as far as growing as they really need to grow as much as possible even in good times to support their families and communities.
We will have to watch and see what happens! Thanks for your comments! Great point...
~~be bold
Is coffee grown anywhere in the US? Most of what I am aware of is imported. Is that just a matter of climate or is it too expensive to grow it here?
Hi Phil,
Thank you for the comment! As far as coffee growers in the US, Hawaii is about it. coffee needs a certain elevation, typically close to 2,000, and a climate found near the equator.
This is why we are paying attention to how futures looking. This is also why Fair Trade is so important as we need to take care of the growers in these coffee growing countries.
Thanks again Phil! Keep coming back!
~~be bold
Hopefully you'll be buying the sort of coffee that isn't normally affected by 'C' grade issues--specialty coffee is already more expensive and for good reason.
I wouldn't worry about it. Congratulations on starting the new endeavor, btw.