Dear valued partners,
The Brazilian Real seems to be gradually correcting the consecutive devaluation hikes that we saw in recent weeks. With the message from the president of the Central Bank, we are optimistic about ammunition into the exchange rate to prevent the Real from depreciating more against the dollar.
The market also reacted positively to the encouraging news related to an experimental coronavirus vaccine that showed promising results and could be ready for approval soon.
The dollar’s rise against the real in recent weeks served as a stimulus to Brazilian coffee growers to sell their upcoming harvest (20/21). New crop trading volume was more expressive in the first days of this week, which decreased during the week with the BRL appreciation against the USD.
Good quality coffees are coming, the leakage percentage is still high, but already lower than what was offered last week. As the days go by, it is expected that the new crop supply will increase, with a lower leakage percentage and an even better quality with the ripening of the fruits.
The expectation is that the quality of the coffee from the 20/21 crop will be better than the previous one, given the great maturity uniformity found in the fields this year.
Our team keeps in daily remote contact, monitoring and assisting coffee growers in their doubts during the harvest. We have not been reported any labor difficulties due to COVID-19.
In this moment of uncertainty about the future, it is important to focus on the present. And now it’s time to harvest in Brazil! The moment calls for great caution regarding the health and safety of workers and the entire community in rural areas. It is of utmost importance that employers are strict in ensuring that preventive measures are adopted so that the harvest can flow well.
With this in mind, we are reinforcing on Atlantica Coffee’s social media, the main measures to prevent the spread of COVID-19 during the coffee harvesting and maintaining daily remote contact with coffee growers in the regions where we operate.
Let’s keep believing and investing in the coffee culture so we can keep moving coffee forward!
Atlantica Coffee team