Hi everyone, we’re cooling our heels at home as are most of you these days.
We’re holding off on all coffee sales, as we’re trying to lay low until things quiet a bit on the pandemic. It’s awful, but we’re coping as best as we can. I worry more about my mother in Las Vegas in a home there.
This too will pass, pray early, pray often!
Virtual hugs to all…
The coffee industry is begging President Trump to keep imports of instant, roasted, and decaffeinated coffees out of the trade fight with the European Union over airline subsidies, warning that hundreds of companies could close if he fails to intervene.
Coffee companies want the tariffs waived, saying that imports of those coffee products from the EU could nearly double in price under the White House’s proposed retaliatory tariffs, a serious blow to the domestic industry, which employs 1.7 million Americans.
“Several coffee brands such as Illy and Lavazza are dependent on imports from Italy for their U.S. business,” National Coffee Association president Bill Murray told U.S. Trade Representative Robert Lighthizer in a letter obtained by the Washington Examiner. “These companies distribute premium Italian-roasted coffee nationally across the United States.” He warned that a 100% tariff would force “hundreds of small businesses” dependent on these imports to shut down.
May be an opportunity for someone to get into the instant coffee business here in the US. Meanwhile, since we import from Peru, so worries yet…
Greetings to all & the very best wishes for Christmas 2019. May all of us have a blessed 2020!
Ben & Yrma
November 2019 marked the first time in the last 12 months when the International Coffee Organization (ICO) Composite Indicator consistently stayed over 100 US cents per pound.The monthly average of the indicator rose 10.1 per cent to 107.23 US cents per pound amid expectations of a global deficit in coffee year 2019/20, estimated at 502,000 bags.
The daily price of the ICO composite rose from 102.74 US cents per pound at the beginning of November to a high of 111.86 US cents per pound on 25 November, before closing the month at 111.77 US cents per pound.
Prices for all group indicators rose in November 2019. Brazilian Naturals saw the largest increase, of 12.1 per cent to 109.94 US cents per pound. The ICO says this in part reflects the biennial decline in the production of Brazilian Arabica as well as the weakness of the Brazilian currency.
Other Milds rose 11 per cent to 140.98 US cents per pound, while Colombian Milds rose 10.6 per cent to 146.12 US cents per pound. The differential between Colombian Milds and Other Milds continued its ascent in November 2019, rising 0.8 per cent to 5.14 US cents per pound. Prices for Robustas increased 6.8 per cent month-on-month to 73.28 US cents per pound.