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Arabica Coffee Sheds 3.7% as Brazil Currency Plunges

Coffee futures tumbled 3.7% in New York on Friday on an increase in global exports of the beans and a sharp drop in top coffee-grower Brazil’s currency against the USD.

ICCO Revises Up 2011-2012 Cocoa Balance to a Surplus

The International Cocoa Organization or ICCO has revised its estimate for last season’s global cocoa balance to 90,000 metric tons surplus from an earlier prediction of a 19,000-ton deficit.

COCOA

Nigeria Southwest Cocoa Prices at 350,000-360,000 Naira/Ton

The prices of graded cocoa in southwestern Nigeria are lower this week due to the fall in world market prices, traders said Friday.

Nigeria Edo State Graded Cocoa at NGN 350,000-355,000/Ton-Traders

The price for graded cocoa in Nigeria’s mid-west Edo state rose this week as more traders purchased beans due to the increase in the main crop cocoa harvest, traders said Friday.

Late Rainfall Helps Development of Mid-Crop Cocoa in Nigeria Edo State

Cocoa trees in Nigeria’s mid-west Edo state are carrying flowers that will develop into the mid-crop cocoa earlier than usual next year due to the current late rainfall in the state, a cocoa body official and traders said Friday.

COFFEE

Honduras Expects Another Record Coffee Harvest in 2012-13

Honduras is continuing to climb in worldwide coffee output rankings, with the harvest this season expected to yield a record of 5.4 million 60-kilogram bags of coffee beans, the Honduran Coffee Institute, or Ihcafe, said Friday.

ICO: World Coffee Exports Hit 8.88 Million Bags in October-ICO

World coffee exports hit 8.88 million 60 kilogram bags in October, up from 7.57 million bags in the same month a year earlier, the International Coffee Organization said Friday.

SUGAR

Kenya Sugarcane Output Falls 11% in Year To June – Central Bank

Kenyan sugarcane output declined by 11.0% in the year to June, to 5.38 million metric tons from 6.04 million tons in the same period last year, the country’s central bank said Friday in its Monthly Economic Review for July.

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