(Bloomberg) -- Coffee in New York rose to a
seven-week high after Brazil, the biggest producer,
announced a subsidy plan that may boost domestic prices for
arabica beans.
The government said it will pay farmers 40 reais ($21)
to ensure they get 300 reais a bag, and will hold auctions
twice a month, each for as many as 1 million bags. Arabica,
the mild-tasting bean preferred by coffeehouse operators
such as Starbucks Corp., is traded in New York.
Read more at Bloomberg Commodities News
seven-week high after Brazil, the biggest producer,
announced a subsidy plan that may boost domestic prices for
arabica beans.
The government said it will pay farmers 40 reais ($21)
to ensure they get 300 reais a bag, and will hold auctions
twice a month, each for as many as 1 million bags. Arabica,
the mild-tasting bean preferred by coffeehouse operators
such as Starbucks Corp., is traded in New York.
Read more at Bloomberg Commodities News
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