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  • Oct 29th, 2005
  • Comments Off on German coffee buying active as New York market drops
German coffee buying was more active this week as New York prices continued their drift downwards, traders said on Friday. New York coffee has broken the upward trend seen since mid-September and is well off the fund-driven peak seen in March.

Purchasing was reported of New York certified coffee stocks in Hamburg, Bremen and Antwerp. Buying of both old and fresh certified supplies was said to have taken place.

Colombian supplies were also purchased because of continuing attractive differentials. Business was also reported in Honduras coffee with new crop supplies as the country's harvesting gets underway. Less interest was seen in Brazilian supplies which are regarded as relatively expensive.

German retail prices were also higher following a spate of price cutting earlier in the year by discount retailers. This was giving brands more cash to buy new supplies.

Copyright Reuters, 2005


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