Edition:
United States

Ayenat Mersie

Brazil minister says U.S. 'gesture' on beef imports insufficient

Mar 20 2019

NEW YORK Brazil's farm minister said on Wednesday that a U.S. agreement to conduct further inspections on the country's meatpacking system is a step toward reopening the United States to fresh Brazilian beef, but is not sufficient.

Target's Archer Farms coffee to be fair trade by 2022

Mar 20 2019

(Corrects to remove the word "all" from headline; fixes description of coffee type in first paragraph)

Ghana's Cocobod signs $300 mln loan to refinance bills, finance programs

Mar 19 2019

NEW YORK, March 19 Ghana's Cocobod signed a $300 million three-year loan with several international lenders on Tuesday to refinance central bank-raised cocoa bills and finance production enhancement programs, one of the lenders said in a statement.

Colombian proposal to ditch NY coffee price may send buyers elsewhere

Mar 19 2019

BOGOTA/NEW YORK A proposal by Colombian coffee growers' federation that producer countries sell their high-quality harvests untethered from the New York market price could encourage buyers to look for alternative providers, importers and exporters said.

UPDATE 1-South Africa sugar tax to cut industry revenues, prompt reform -USDA

Mar 13 2019

(Adds details from report, background) By Ayenat Mersie NEW YORK, March 13 South Africa's sugar tax could slash industry revenues and prompt restructuring of the country's sugar sector, the U.S. Department of Agriculture (USDA) said in a report published on Wednesday. The tax, introduced last April, has slashed the beverage sector's use of sugar by 30 percent, the USDA attache in Pretoria said, marking a major win for health advocates who have sought to curb sugar consumption in an effort to fight health epidemics of obesity and diabetes. The initial law imposed a tax of 2.1 cents on beverages for every gram of sugar in excess of 4 grams per 100 milliliters. Last month, the government raised the tax to 2.21 cents per gram, a 5 percent increase. The sugar tax could reduce the sugar industry's revenues by up to $129 million in the 2018-19 marketing year and in turn reduce prices paid to sugarcane growers, the USDA report said, citing industry. Even without the tax, South Africa's sugar sector had been beleaguered by low futures prices , competition from imports and droughts. "The current crisis in the sugar sector may be an opportunity for the industry to restructure and for government to reconsider the support measures it should be providing to the industry," the USDA report said. The tax could also present an opportunity for some U.S. exporters of alternative sweeteners as well as to beverage manufacturers capable of reformulating their products to contain less than the 4-gram threshold, the USDA said. On Monday, shares in South African sugar producer Tongaat Hulett Ltd fell more than 14 percent to trade at their lowest level since 1993. Shares of the struggling company fell after its chief executive said last week that a review of past accounting practices at the company could affect previously reported financial information. In October, raw sugar from South Africa made a rare appearance in the cash delivery against an ICE Futures U.S. contract, often seen as a buyer of last resort. (Reporting by Ayenat Mersie; editing by Jonathan Oatis)

Americans drinking more gourmet coffee than ever before: survey

Mar 09 2019

ATLANTA Americans are consuming more gourmet coffee than ever, but the outlook for future growth may be threatened by increasing economic worries, survey results from the National Coffee Association (NCA) showed on Saturday.

Coffee prices seen rising nearly 25 percent by year-end: Reuters poll

Feb 12 2019

NEW YORK Arabica coffee prices will rise nearly 20 percent by the end of 2019 as Brazil's shift to an off-year in its biennial production cycle helps swing the world into a global deficit, a Reuters poll of nine traders and analysts showed on Tuesday.

North America fourth-quarter cocoa grind up 1.25 percent vs year ago: NCA

Jan 17 2019

NEW YORK North American cocoa grindings increased 1.25 percent in the fourth quarter of 2018 from a year earlier, a smaller rise than many had predicted, according to data from the National Confectioners Association (NCA) on Thursday.

Small Ivorian cocoa exporters seek relief on commitments -sources

Jan 16 2019

ABIDJAN/NEW YORK, Jan 16 More small cocoa exporters in Ivory Coast were unable to fulfill their international contracts at the end of last year, and sources at the country's cocoa board told Reuters that this group asked to postpone 70 percent of October-to-December commitments due to a lack of financing.

RPT-Ivory Coast cocoa bean quality hit by dry weather, financing woes

Jan 11 2019

ABIDJAN/NEW YORK, Jan 11 Farmers in top cocoa grower Ivory Coast say the current crop is worsening, with beans starting to rot, as lack of financing prevents them from properly fermenting and drying beans already stressed by bad weather.

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