CIJENE KAVE NA BURZI U NEW YORKU

CIJENE KAVE U NEW YORK-U SAD - KAVA trgovačke spot cijene 06. listopada 1997. Differentials /spot/ ZADNJA Santos 4's 8 cts under "C" 161.95 N Colombian MAMs 21 cts over "C" 190.95 N El Salvador 11 cts over "C" 180.95 N Mexican 4 cts over "C" 173.95 N Guatemala 11 cts over "C" 180.95 N Peru 9 cts over "C" 178.95 N Uganda Pmy Robs 8 cts over London 83.25 N Indonesia EK1 3 cts under London 72.25 N Ecuador Ext Sup 18 cts under "C" 151.95 N NEW YORK - KAVA cijene pri zatvaranju burze 07. listopada 1997. MJE POSLJ OTVA NAJ NAJ ZATVA NAGO EDNJA RANJE VIŠA NIŽA RANJE DBE DEC7 162.25 170.00 170.70 159.00 162.00 162.15 1 MAR8 148.50 155.50 156.00 148.00 148.50 148.50 1 MAY8 144.00 150.00 150.00 144.00 143.50 143.50 1 JUL8 139.50 144.00 142.50 139.00 138.25 138.25 1 SEP8 134.00 139.00 136.00 134.00 133.25 133.25 1 DEC8 130.00 135.00 135.00 130.00 128.50 128.50 1 MAR9 130.00 130.00 130.00 1 MAY9 CSCE coffee ends down sharply on Colombian news NEW YORK, Oct 7 (Reuter) - CSCE coffee futures ended sharply lower on Tuesday in the wake of news Colombia slashed the premium on its export-quality coffee, traders said. They said selling on the part of commission houses and locals drove the benchmark December contract through key chart support at 165.00 cents per lb, touching off sell-stops. December arabicas quickly tumbled to a low of 159.00 cents before trade buying emerged to stem the downslide and trim losses. December arabicas ended at 162.15 cents, down 7.80 cents per lb. The intra-day high was 170.70 cents. Second-month March fell 7.45 cents to 148.50 cents, while the forward months ended down 4.00 to 6.50 cents. The December/March spread narrowed to 13.65 cents compared with 14.00 cents at the close on Monday. Arabica prices defied pre-opening expectations and posted modest gains at the outset on Tuesday, but quickly reversed course amid news late Monday that Colombia would cut the price differential or premium it demands for its export-quality excelso coffee from $0.30 per pound to $0.16 in order to boost its competitiveness on world markets. "It can be considered bearish because by reducing the premium it is likely to make Colombia more competitive and more aggressive in selling," said Prudential Securities analyst Arthur Stevenson. "The move could also mean they have a more generous expectation of what the next crop could be. "Roasters on both sides of the Atlantic have not been aggressive buyers for some time now," he added. "By lowering the export premium, it makes it more attractive." The premium is charged in addition to the market rate for a pound of coffee. The decision to cut the premium came against the backdrop of speculation within the industry that the quality, if not the volume, of Colombia's coffee harvest in the last quarter of the 1996/97 cycle and in part of the 1997/98 year would be affected by the El Nino weather phenomenon. Colombian National Coffee Growers' Federation chief Jorge Cardenas recently put the total harvest for the 1996/97 year, which ended September 30, at some 10.7 million bags, up from the previous estimate of 10.5 million bags. Cardenas forecast production in the first quarter of the 1997/98 cycle at between 4.5 and 4.7 million bags -- up from 3.6 million bags in the same period in the 1996/97 season. "It's bearish because when Colombia lowers its premium it might imply they have more coffee than they have said," one trader noted. "And lower premiums mean they have to sell it quickly." Technically, December stopped short today of the next support level at around 158.00 cents and bounced off lows amid worries Hurricane Pauline might harm the coffee crop or delay the harvest in Mexico, dealers said. "Pauline is serious," said another trader. "It could dump a lot of rains where it isn't needed and delay the harvest. Thirty or 40 mile-per-hour winds could knock off the ripe cherries." Hurricane Pauline gained strength on Tuesday as it headed toward the already rain-soaked parts of southern Mexico, local officials said. Packing sustained winds of 134 mph (215 kph) and gusts of up to 150 mph (240 kph), Pauline had strenghtened to category four out of a possible five on the Saffir-Simpson hurricane scale, making it what experts consider an "extreme" storm. The Communications and Transport Ministry said in a statement that Pauline was headed north-northeast and was expected to hit Oaxaca sometime on Wednesday. Weather Services Corp meterologist Mike Palmerino said on Tuesday that Pauline was likely to drift across Oaxaca, where some 19 to 20 percent of the Mexican coffee crop is grown. "It looks more and more like Oaxaca," he said. "I think I can say pretty confidently Chiapas will not be greatly impacted -- it will get rains, some locally heavier. "I think the greatest impact will be delays in harvesting due to damage of infrastructure," he added. "Fears this will have a huge impact on production may be overblown." The continued decline in exchange-certified inventories was also viewed by some traders as supportive. After Tuesday's close, the CSCE reported certified coffee stocks fell for the 11th day in a row. Stocks were reduced by another 4,497 60-kg bags as of October 4, to 66,849 bags. There was no coffee pending grading, the exchange said. On the charts, traders continued to peg support at 158-157, while resistance was seen at 165 cents. Turnover on Tuesday reached an estimated 8,906 lots. 081151 MET oct 97