Coffee Tumbles Most Since 2008 as Brazil Frost Concerns Ease
- More ‘patchy frost’ expected in south Minas Gerais next days
- Hightower Report sees coffee slump as a buying opportunity
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Arabica coffee fell the most in more than a dozen years, paring a monthly surge as concerns eased that severe weather will further damage crops in top shipper Brazil.
Frost overnight reached about 80% of south Minas Gerais, the country’s top producing region, but the impact was less than feared, according to Drew Lerner, president of World Weather Inc. The area may get “patchy frost” Saturday and Sunday. Most sugar and citrus areas were spared the worst readings, and any impact was probably localized, Lerner said.