The Brazilian Government announced last week that it would not allow imports of Peruvian coffee, repealing last month’s decision to open its market. Reuters reported that the decision followed a warning from farmers that crop pests from Peru could enter Brazil. The report said a number of Brazilian politicians had questioned why the world’s top coffee producer needed to import beans. “It would be like Norway importing codfish,” Senator Ricardo Ferraço of Espirito Santo, Brazil, told Reuters. The National Coffee Council published a statement in Brazil’s official newspaper saying that it supported the government’s decision to halt imports. Peru exported 1.04 million 60-kilogram bags of coffee between October and March 2014-2015, down 47 per cent on the previous year, according to International Coffee Report (ICO) figures. The ICO said exports in Peru were mostly recorded lower in 2014 because the coffee leaf rust outbreak continued to affect production. Brazil exported 18.5 million 60-kilogram bags during the same period, up 6.5 per cent on the year before.
Luckin Coffee to announce Q4 and full year 2024 results
Chinese coffee chain Luckin Coffee will release its fourth quarter and full year 2024 financial results before the United States...