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Posted: 1:23 PM Jan 8, 2009
Brazil Coffee Crop to Decline Up to 20%. in '09....Prices Could Jump
BRASILIA, Brazil (AP) -- Coffee output in Brazil is expected to drop by as much as 20 percent this year because of adverse weather and weak investment amid a tough world financial climate.
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Agriculture Ministry spokesman Jonas Cavalcanti says the No. 1 coffee growing nation anticipates production of 37 million to 39 million 60-kilogram (132-pound) bags, compared with 46 million in 2008.
Cavalcanti said Thursday that production drops are normal and occur every other year because of the "cyclical stress on trees."
But he said this year's drop is aggravated due to "irregular rainfall and high temperatures in some growing regions and to lower investments caused by the global financial crisis."
Cavalcanti did not know how revenue could be affected.
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