Last Updated : 21 November 2012 at 16:10 IST
Roya roils Honduras Coffee spoils; 5% less production expected
The country may come out with 5.673 million 60-kg bags this year, down from 5.98 million bags, according to Victor Molina, manager of coffee institute IHCAFE.
- Gold, Silver may trade weak; Crude Oil to remain stable
- Exchange-traded products in gold -- investment vehicles that give investors exposure to bullion through issuing securities backed by the physical metal -- have seen huge outflows this year.
- read more
Continued year-over-year declines in U.S. beef production are expected to push beef exports lower..
By Col. Ajay
As per financial astrology, transit OD Sun in Saturn house is ..
TEGUCIGALPA (Commodity Online): With roya—a kind of fungus affecting coffee plants-- roiling the coffee production of Honduras, the Central American Republic may produce 5% less coffee than previously estimated, reported Reuters.
The country may come out with 5.673 million 60-kg bags this year, down from 5.98 million bags, according to Victor Molina, manager of coffee institute IHCAFE. The organization is a top coffee research house in Honduras.
The country exported 5.48 million 60-kilogram bags during the 2011-12 crop season, which is 40% higher than 2011 season. Honduras and Mexico together account for about one-fifth of the world's arabica beans.
Roya is known better to scientific world as leaf rust, a highly destructive disease sapping the nutrients from the leaves and killing bean yields.
Back in September, the authorities tried to send defensive mechanisms to some 20,000 growers in the country in the form of fungicides and fertilizers.
"We know there will be some effect on coffee production, but we think exports won't fall because we have new plots, planted within the last three years, that should bolster next year's harvest," a stake holder had said way back in September to Business Recorder.
- China Gold demand vs India Gold demand: Which is more consistent?
- Platinum prices to average $1687/oz in 2013: Barclays
- US Natural Gas industrial demand to grow 400 Mmcf/d in 2013: Barclays
- LME Copper prices may average $7,673/ton in 2013: Barclays
- US Natural Gas exports to Mexico to average 2.0 Bcf/d in 2013: Barclays
- Copper prices above $7,500/t is an opportunity to short: Barclays