The San Francisco call., 1904-07-07
COFFEE TR4DE.
Prospects Fac0r Lighter Stocks
and Firm Prices.

The New York circular of Henry Nordlinger
a Co. says-
Ia our market report OF February ]. this
year. 74 stated that the l903-4 Rio and san
tQe c-Qn would prove 70 be rather under than
oFe- -H.5n0- -o90 baEs The official figures OF
the crop year JUST closed verify the correctness
~ "-r calculation. The total Brazilian produc-
f-1 'Hi1s- santos kictorias, Bahias and
tearasi during rhe past year amounted 10 IL, r.
=. ao bags. and the consumption in the
V---c cf these kinds was about 1850, 900 bags.
show .rE that consumption % Brazils has gone
ahead -f the production for the first time
since l>.'9 1900 although in a comparatively
suaI way. on the other hand the world .
production = all kinds 0f coffee during 1908 4
was about 1880 ooo bags and the worlds con-
sumption about is Ice o03 bags.
while We experienced steady annual in
crease -n The consumption Of Brazils from 1909
to IeH3 r-e fnE that there was q falling of
This wear ~ about 40o 90 bags from the high
mark reached iu 1923. This falling OF IS
20 some extent due 10 the larger consumption
of mild C1fees- which were obtainable during
a Fair rar- Cf the year at very near the price
cf Brazi.s. ru- iJ Is also due 70 the fact that
the consumption of Brazils during the last
four months has been less than the normal
consumption for these four months in previous
years. We expect 10 see a heavier consunp-
tiCr NJ B-azI coffee during 1908. and esti-
mate same a. fully J. 00o 900 bags. because
me l-srrlclling trade IN this country as wei
in Europe IS now bare Of stock and is
bound 70 come In as larger buyer than
heretofore.
the visible supply cf the world during last
month"; and e slight decrease VIII probably
increase IN rhe visible supply OF 40 COO bags
during JUlF last wear. The visible supply OF
the world on August 1 should therefore be
smaller than r was on August / last year,
and -hls Wiu be the beginning OF change
from what We have experienced since July,
1850. to -he present day ]. p. instead Of hav
ing each month larger visible supply than
the same cate a year before, Il VIII for the
hrst riue show ur smaller and Il will con-
rlnue that way during the whole OF the crop
year u lgo4-5 We think there viii not be a
sirele month ia which the visible supply viii
'nr NJ
q year before, and we expect that this de-
GREASE Hll assume such proportions that py
. 500 no 20 5000 600 bags less coffee existing
in the world than there are now. This makes
IL clear that the prospective position Of coffee
warrants "a considerable Improvement N values
Nerer-heless II should be borne in mind that
are at The very beginning Of the marketing
~ crop which should ofter opportunities Tor
a sound buying basis.
MILD COFFEES
Europe and the United states received
curing the crop year just past about 5,S5o 600
tsEs lf mild coffees which is by far the
largest quantity that came into sight IN any
crop year since statistics were kept This
compares very unfavoraby with the receipts
Of 1e02-8 when they were only 8. $50 coo bags
I'VE have several times referred 70 the alb
normally large receipts of mild conees. and
have explained that they were not the product
~ one year but that the largest part Of this
excess consisted ~ three 10 four years accu-
mutations on plantations. which could not be
Forwarded On account OF revolutions raging
durire that time IN several Central and South
American Countries. We have these extra
ordinarily large receipts now behind US The
receipts during the last month show q consid-
erable falling on and were smaller than for the
same month last year We have 10 deal from
NOW GA only with the extent Of the actual
annual crops which II is reported VIII be
smaller in The aggregate than they were dur
irE recent wears. For this reason We calcu-
late on q falling Of IN the receipts Of mild
cofees ~ 600 600 70 500 O00 bags during
1858 a. coTnpa-S with l903-4- II is 70 be
remarked upon that the consumption Of mild
Ccfees shows increase over last year OF
stour $4,000 haEs. and the net result OF the
receipts and deliveries during the past year
is thar there are now about 10000 bags more
mild coffee in consuming markets than year
eEc This additional quantity however, does
not appear tC bear heavily on the market
Receipts from now on until December
January HiH he very small. and in the mean
-lue consumption IS going on the same as
ever. that VIII most likely see the sur
plus stocks disappear before fresh supplies
81 any extent can come forward.
--Bogotss have found new channels Of con
sumption on account q their cheapness and
ffei- merits. Demand for these continues 20
he brisk This Is reflected IN the price. which
has advanced during the last month about p
q Mound Even that advance they are to-
fav the cheapest washed coffees intrinsicaily
81 well iu comparison with the prices ruling
Tor the products of other countries.