Brazil Price Moves up again, Crop delayed - SEVERE FLOODS

01/03/2007

THE MARKET FIRMS FOR BRAZILS 

The Brazil Market remains inactive, in reality shippers at origin are holding back & see little opportunity to getting goods in from the interior at competitive prices, the big difference for this year is there is little/no carry over from the previous crop.

As demand enters the market & the spot market becomes depleted of physical stocks with very little on the water, we could see prices surging upwards..

Many buyers have sat on the fence & feel prices will remain stable; it is a tough call for all of us,

As the stocks disappear on the spot, the price could well be chased up; of course this could force a false price on the market, which could of course push the forward price up too!!

We hope the market remains calm & does not get chased upwards, as this long term could have serious implications for the market & rising prices could also slow down consumption & confidence from the end users.

SEE LATEST FLOODING IN BOLIVIA

Bolivia city faces 'flood threat'

Hundreds of people have already abandoned their homes The Bolivian government is studying the possibility of evacuating tens of thousands of people from the city of Trinidad due to large-scale flooding. Around 90,000 people are stranded in the capital of the north-eastern Beni province, reports say. The situation could grow worse if rising floodwaters overflow a dyke surrounding the city, officials say. At least 35 people have died and 350,000 have been affected by the worst floods to hit Bolivia in 25 years. The president, Evo Morales, said that the government had instructed the civil emergency authorities to plan for the city's evacuation. "We have instructed the authorities to draft a plan to evacuate Trinidad in case the water keeps rising" Mr Morales said during a trip to the central Cochabamba region, according to the state news agency ABI. "If the water flows over the dyke, the whole of Trinidad will be washed away." Financial cost Trinidad is surrounded by a roadway that acts like a dyke protecting the city from floods. Residents point out that currently the water is rising by two inches (5cm) a day and the over-flowing is inevitable. Reuters news agency reports that hundreds of people have already abandoned their homes and are seeking refuge outside Trinidad, in tents, churches and schools. The unexpected flooding is said to have been caused by the climate anomaly El Nino. At least 350,000 people in the country have been affected by months of heavy rain, which has caused widespread flooding, mudslides and blocked access to emergency aid. The flooding has also destroyed close to half a million acres of agricultural land and crops, and resulted in millions of dollars in losses.

Back To Nut News