Brazil coffee to come under US scanner: The Economic Times (India)
The New York Board of Trade will review in January results of recent coffee tastings from Brazil to determine whether beans from the world?s top producer are good enough for delivery against Nybot futures, exchange officials said in the past week. Since July, a panel of coffee tasters held a series of five separate grading sessions to assess the quality of Brazilian coffee beans. Their findings will go to a Nybot coffee committee which will make a final decision. ?The current timetable has the committee getting together in mid-January, and that will be the earliest time which the committee will consider the report,? said Tim Barry, vice-president of market development at Nybot. The prospect of Brazilian beans sold against Nybot futures has prompted concerns among Arabica growers in Central America and Colombia because they struggled with years of low prices and oversupply from growers like Brazil and Vietnam. The flipside of the argument is that Nybot?s coffee futures market lacks efficiency without top grower Brazil. Brazil, the leading producer of natural Arabica coffee, has increased its production of washed coffee in recent years by using new technology such as ?aqua-pulping?. ?Some of the Brazilians that I tasted were up to par,? said Paul Fisher, a member and licensed grader of the Nybot exchange.
I and my wife can attest to the quality of Brazilian coffee, a lot of which is grown in Minas Gerais now. Maybe we can get Neuza a job as a taster: No one is quite as snobby about coffee as an Italian from S�o Paulo. Neuza initially couldn't believe the dishwater we drink here. The NYBOT's Coffee Committee started thinking over Brazil contracts back in July.