DJ - Coffee Market Isn't Overvalued - ICO Head
Current coffee prices aren't overvalued and provideincentives to farmers and growers to plant the crop, the head of theInternational Coffee Organization said on the sidelines of the FT sustainableagriculture summit Thursday. "The current prices offer good prospects to coffee farmers and incentivizethem to grow the crop," Roberio Oliveira Silva told Dow Jones Newswires. "It isa profitable price and gives farmers hope in the market." Ahead of the upcoming Brazilian crop, farmers believe there are shortages ofcoffee in the market, which gives a support to price levels, said the ICO. "People don't need to be afraid if there are sudden price moves in the coffeemarket. It is a reflection of well capitalized farmers," he said.
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