Arabica coffee futures in New York have risen for the ninth consecutive session, reaching their highest level in over three months due to declining stockpiles and stalled shipments from Brazil, the world's top coffee producer. The increase in futures prices coincides with reduced demand for Brazilian coffee in the United States, attributed to tariffs imposed by the Trump administration. This has led to a drop in domestic Brazilian coffee prices while pushing retail prices higher in Brazil. In response to the impact of these tariffs, the Brazilian government under President Lula has announced plans to purchase food products from domestic producers affected by the tariffs. These products will be allocated to public school meal programs, expanding menus to include items such as açaí, fish, fruits, coconut water, and honey. Additionally, the Lula administration is finalizing a contract with a U.S.-based law firm to seek the reversal of the sanctions imposed by the Trump administration.
Brazil's government says it will buy some domestic products hit by Trump's tariffs. By @MSavarese https://t.co/OxnlwAw4Mz
Brazil retail coffee prices could surge amid US tariffs, industry group says https://t.co/h3HMSgWeXC https://t.co/h3HMSgWeXC
O governo Lula vai contratar um escritório de advocacia para atuar nos Estados Unidos e tentar reverter sanções impostas pelo governo Trump. Segundo a AGU, o contrato está em fase final. Saiba mais com @guibalza. ➡ Assista ao #GloboNewsMais: https://t.co/bFwcwLpLU9 #GloboNews https://t.co/kYGuA83Oil