The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1874-03-28
Cofee

The production in coffee growing countries, il has
been apparent in late years. by no means keeps pace
with the consumption in Europe and America. Our
latest advices from san Francisco report the price in
that market as firm st p to 70 cents per pound. and
il is reported from Central America, whence Califor-
MIA has heretofore obtained the bulk Of her supplies,
that almost the entire crop has been purchased in
advance for European markets. And now from
Colombo, (Ceylon) we hear that coffee i there rising
in price. "middling plantation +" being now quoted
at over 1905 per cwt. and large contracts are being
made for the CeylOu crops deliverable early in 1875.
In the San Francisco Commercial Herald Of
March 9Th, we had an interesting review Of the
coffee trade, from which We make the following
extract
About the middle Of last year it was apparent TO
the coffee dealers Of the world that the consumption
of this article had overtaken the supply, owing to 8
variety Of causes. F~irst-Germany, since the French
war, and the increase Of wages consequent Of so
many men drafted into the army, had grown q very
large consumer. Secondly-England had increased
her demands for this staple, owing in a great part TO
the increased wages paid to labor. Thirdly-France
had again become a heavy consumer, after having
been deprived temporarily Of a large portion of her
supplies during the war. FOurthly-The United
States were yearly needing more of this staple to
satisfy the wants o; her eyer-increasing population.
To meet these heaEy demands We had but Brazil.
Central America, Ceylon, and the Dutch East Indies
10 look 10. IL Da1 Deen apparent Tor some time that
we could not look TO Brazil for a larger supply Of
coffee than she WA already s~ffording, and the pros
poets were more likely to be a diminished production,
as the gradual emancipation Of the slaves was in
progress. The Ouch East Indies have reached their
maximum of prediction, and it is only by strenuous
efforts 1t Is kept Up to its present state. We have
only Ceylon and Central America to look to for
increased supplies. The first of these places has been
exceedingly successful in coffee raising, and last year
produced nearly one million cwts, by far the largest
crop ever harvested. Costa Rics, Of the Central
American States, has reached her limit of production,
as during the crop season every available man and
child is engaged in picking the berry. and in a year
of full crops many Vt the trees have to go unpicked.
These leave US Venezuela, Salvador and Guatemala,
which are all capable Of increasing their production;
but when we reflect that a good crop in Brazil is
$40, 900 tons, and that the entire production of
Central America, ii a good year, would not reach
10000 tons, We see how little effect all Central Amer
lea could have uponthe worlds markets when Brazil
fails to furnish her usual supply. Such was the case
last year; the crop Of Brazil for 1873 was not over
1900, 900 bags of 160 pounds, equal to 120, 900 tons.
During November and December of last year, the
markets Of Europe and Eastern States sharply adj
vanced; stocks diminishing every day, and receipts
not equaling consumption. As usual in the United
States, when the buyers of coffee realized that it was
a good purchase, many spectators entered the mar
ket, and forced prices faster than legitimate con-
sumption would warrant at the moment, and prime
Rio was worth in New York SOC. gold, per pound,
being &c. to &c. per pound more than it was selling
for in Europe. After wild speculation of this sort,
II was natural 10 see some reaction IN prices, partlc-
ularly when spectators commenced to realize, and
ever since the opening of 1874, coffee has been de-
Ginning in the Eastern States, till it is now quoted
for prime at 25c. In the face of this movement in
New York, the European markets have gone on adj
yancing steadily; stocks day by day diminishing, till
on the 31st of January, 1874, there were in the
London market but S,720 tons coffee of all kinds.
At that date there were on the way to all Europe
from Brazil but 81 900 bags, against "a. 900 bags
last year. In addition to the short supply from
Brazil, the Ceylon crop for 1S73-74, which is just
now harvested, proves to be less than one-half of
what it was last year, and the supply from this
source will thus be % 900 or more tons less than was
expected. In the face of these statistics, it is not
surprising that the English and continental markets
are constantly reported at higher prices, till they
had reached at last dates the value of SOC. for prime
Costa RIGA in London, and sc. for prime Java in
Holland. That the panic which has overtaken the
coffee dealers in New York is only temporary, then
seems certain, and it looks very probable that the
year 1874 will see the highest prices paid for coffee
that have been known, and the question of when
shall we see q reduction in this article 80 cannot be
answered until We see some decrease in the consump-
ton, to equalize the production, or until a %coDJunc-
serve to refill the depleted markets of the world.
We learn that Costa Rica will not have more than
half of a crop this season, which will diminish by
1922 1890 w tens sd the fO sSgfecat sas sGHRRlya md Gf2RlGifq 4a tie a RSif8,
and, owing to the fact that the interior was supplied
at a small profit by the San Francisco jobbing trade,
the people of this coast have not yet fully realized
that the value of this great staple has materially
advanced. Owing to the very high prices current in
Europe, nearly the whole of the Central American
crop has been secured for that market, and the
present appearances are that we shall be left without
even our accustomed supply. Should such be the
case, we are likely to see California, in 1874, instead
of the cheapest, the dearest market for coffee.