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In a global coffee glut, top Brazil grower runs out of beans

from Bloomberg

Brazil’s biggest grower and shipper of arabica coffee says it has run out of beans for new orders, countering the steady drumbeat of ample supply that has sent prices to 13-year lows. “Funds are overselling coffee in New York while in the physical market there’s no more supplies and demand has been strong,” Lucio Dias, commercial director at Minas Gerais-based cooperative Cooxupe, said by telephone. “We don’t know where the world will get coffee in the next six months.” more

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