Coffee fell the most since September on speculation that newly harvested supplies from Vietnam, one of the world’s largest producers, will ease a shortage that sent prices to a nine-month high yesterday. The Vietnam Coffee & Cocoa Association is forecasting a 26 percent increase in the current crop season, to 870,000 metric tons. Prices are up more than 20 percent in London and New York during the past four months as world inventories fell to a record low and drought damaged Vietnam’s previous crop. Read more at Bloomberg.
Green Mountain Coffee Roasters, Inc., announced results for the fourth quarter and fiscal year ended Sept. 30, 2006. Net sales for the thirteen-week fourth quarter ended September 30, 2006 increased 83.7 percent to $66.9 million from $36.4 million in the twelve-week fiscal fourth quarter of 2005. Included in Green Mountain Coffee’s fiscal fourth quarter 2006 net sales is approximately $21.6 million of Keurig, Inc.’s (Keurig) net sales after the closing of the acquisition on June 15, 2006. Read more at MarketWatch.
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Posted by beanybabe at 11:59 PM PST
