WALKOUT ENDS, POURS COFFEE INTO MARKET.Byline: Daily News Staff and Wire Services Coffee future prices declined Friday for the first time since Jan. 13 after dockworkers in Colombia ended a 10-day strike, allowing thousands of bags of coffee to flow into the world market. Coffee for March delivery fell 3.15 cents to $1.369 a pound on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Coffee, Sugar & Cocoa Cocoa, city, United States Cocoa, city (1990 pop. 17,722), Brevard co., E Fla., on the Indian River (a lagoon), a segment of the Intracoastal Waterway; inc. 1895. It is a tourist and arts center in a region where citrus fruits are grown. An 8-mi (12. Exchange. When the price topped $1.40 Thursday, it represented a 33 percent gain since Dec. 6. Analysts have said the recent gains could lead to a 25 percent hike in the price of a can of coffee. The strike at the key Colombian port of Buenaventura ended Thursday after union leaders and management reached a wage agreement, port officials said. Shipments of more than 210,000 132-pound bags of coffee, suspended sus·pend v. sus·pend·ed, sus·pend·ing, sus·pends v.tr. 1. To bar for a period from a privilege, office, or position, usually as a punishment: suspend a student from school. because of the strike, were set to resume Friday. Also, concern has faded that Brazil's next coffee crop would be one-third smaller than last year, as forecast by the nation's trade ministry. Jorge Esteve Jorge, president of the Brazilian Association of Coffee Exporters, said the crop could reach 28 million bags, surpassing the 27 million bags that the U.S. Department of Agriculture says will come from the world's largest coffee grower. ``The Colombian strike is over, which means coffee will arrive,'' said Judy Ganes, an analyst at Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. & Co. in New York. Also, prices fell because of the ``larger Brazilian crop estimates.'' The price drop came even after the Association of Coffee Producing Countries' agreement Thursday to cut exports by 1.3 million bags, or 5 percent, during the first six months of the year. ACPC ACPC Area Child Protection Committee ACPC Association of Coffee Producing Countries ACPC Apple Communications Protocol Card ACPC Arroyo Center Policy Committee ACPC Ames Community Preschool Center (Ames, IA) members, which represent about 70 percent of world production, agreed to reduce exports in an attempt to boost prices. The export cut, which includes 100,000 bags of the arabica a·rab·i·ca n. 1. a. A species of coffee, Coffea arabica, originating in Ethiopia and widely cultivated for its high-quality, commercially valuable seeds. b. The beanlike seed of this plant. 2. grade of coffee specified by the New York exchange, didn't surprise traders. ``We wouldn't have expected anything different,'' Ganes said. |
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