Coffee Analysis January 2013

Coffee prices recovered slightly in January, supported by growing concerns about the outbreak of coffee leaf rust across Central America. All major coffee-producing countries in the region have now reported some extent of damage to the 2012/13 crop, though these reports have been tempered by the prospect of a record off-year crop in Brazil in 2013/14 , which CONAB, the Brazilian Government Agency responsible for crop forecast, have initially pegged at 47 to 50.2 million bags, exerting a bearish influence on the market.