Brazil to Announce Measures to Aid Coffee Growers Friday
SAO PAULO - The Brazilian government will announce Friday a package of
measures intended to help coffee growers cope with low prices, a spokesman for
the agriculture ministry said.
Brazil's agriculture minister, Antonio Andrade, will hold a news conference
at 1600 GMT Friday to provide details on the measures, the spokesman said.
Coffee growers have been seeking government assistance for months, as the
price for arabica beans, the most widely grown variety of coffee, has been
sliding. Earlier this month, arabica futures traded on the ICE Futures U.S.
exchange dropped to seven-year lows, pushed down by expectations for a record
harvest in Brazil and for big harvests in other exporting countries such as
Colombia and Indonesia.
In August, the government introduced some measures intended to help,
including selling options contracts for delivery in April and offering to buy
coffee right away at the official minimum price, but farmers say those measures
have been ineffective.
"If farmers had that kind of financial muscle" to wait until April delivery,
"then they wouldn't need the government's help," said Francisco Ourique,
superintendent of coffee for the Cooparaiso cooperative that represents more
than 2,500 growers.
More recently, growers groups presented the government with a "Coffee Pact,"
a series of measures intended to help cut farmers' debt and raise prices in
world markets. Proposals included a moratorium on debt payments, letting
farmers pay their debts with coffee and having the government establish a
strategic stockpile of beans to help regulate prices.
Growers gave the government until Nov. 14 to act, but the government missed
that deadline, saying it was considering what action to take. Friday's
announcement is expected to be a response to the Coffee Pact.
Growers groups have said farmers are taking a loss on every 132-pound bag
they sell, and some can't afford the maintenance required to maximize coffee
production in their fields. That could lead to smaller crops in the future.
Brazil is the world's biggest producer of coffee.
REUNIÃO VIRTUAL DO CMN FICA PARA A MANHÃ DESTA SEXTA-FEIRA
A reunião virtual do Conselho Monetário Nacional (CMN),
marcada para esta quinta-feira, ficou para a manhã desta sexta-feira,
provavelmente, segundo fonte do Ministério da Fazenda. No setor café, a
expectativa é total pela aprovação de voto prorrogando por 120 dias as
dívidas vencidas e vincendas a partir de 1 de novembro. Também são
aguardadas outras medidas.
Segundo a fonte do Ministério da Fazenda, por problemas de agenda dos
membros do CMN não houve a votação dos itens pelo sistema eletrônico. Assim,
a reunião virtual por esse meio ficou para esta sexta-feira.
O Ministério da Agricultura, Pecuária e Abastecimento (Mapa), por sua
vez, anunciou pela assessoria de comunicação que o ministro Antônio Andrade
anuncia nesta sexta-feira, 22 de novembro, medidas de apoio ao setor cafeeiro
às 14 horas, no auditório maior do Mapa.
