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Marcy Nicholson News

23 Aug 2018

Coffee Exporters Struggle to Find Ships for Brazil Bumper Crop

© Stanislav Komogorov / Adobe Stock

Brazilian coffee exporters are struggling to find shipping capacity to transport a bumper crop from the world's top producer, which could result in supply delays to roasters worldwide.Abundant overall supplies in consuming countries, however, will limit any near-term impact from shipping delays of Brazil's new crop and are not yet seen impacting coffee prices that are 12-year lows.Farmers in Brazil are finishing what the government and industry expect to amount to a record coffee…

14 Apr 2016

US Forecaster Sees Rising Chance of La Nina

A U.S. government weather forecaster on Thursday forecast an increasing chance of the La Nina weather phenomenon taking place in the Northern Hemisphere in the second half of the year.   The Climate Prediction Center (CPC), an agency of the National Weather Service, in its monthly forecast said the El Nino weather phenomenon is likely to neutralize late in the Northern Hemisphere spring or early summer 2016.   (Reporting by Marcy Nicholson)

10 Apr 2015

Venezuela Curbs Cocoa Exports

Venezuela's flavorful cocoa, coveted centuries ago by pirates and now a darling of specialty producers, will not be enriching foreign chocolate bars any time soon. The South American country's socialist government has drastically reduced export permits for cocoa in the last five months, according to Venezuela's cocoa industry group. The group said about 5,000 tonnes from the January-February cocoa harvest are stuck in the country, ruffling chocolatiers in top importers Japan and Switzerland and risking roughly $17.5 million in export revenue. "They're ruining the reputation of Venezuela as a cocoa exporter," said group President Alejandro Prosperi. Governments around the world require export licenses, sometimes to limit sales of goods in short supply.

07 Aug 2014

Lower Chance of El Nino in Autumn

A U.S. weather forecaster decreased its outlook for the El Nino weather phenomenon in its monthly update on Thursday, estimating the chances of the weather pattern occurring during the Northern Hemisphere autumn and early winter at 65 percent. The Climate Prediction Center, an agency of the National Weather Service, lowered its estimate from an 80 percent chance. (Reporting by Marcy Nicholson; Editing by Jeffrey Benkoe)

15 Jul 2014

ICE to Add Port of Virginia as Coffee Delivery Point in 2016

Portsmouth Marine Terminal in  Port of Virginia (Photo courtesy of  Port of Virginia)

ICE Futures U.S. will add the Port of Virginia as a delivery point for the arabica coffee futures contract, effective with the September 2016 contract, the exchange said in a notice on Tuesday. An exchange spokeswoman declined to comment on the reason for the addition. There are currently no exchange certified coffee warehouses in Virginia. (Reporting by Marcy Nicholson; Editing by James Dalgleish)