Coffee News: Coffee futures drop, but cheaper brew not seen soon

"New York coffee futures are down more than 30 percent since March, but major U.S. roasters are unlikely to quickly pass the lower prices on to retailers by slashing their list prices, analysts said on Tuesday.

Only four months ago, Arabica coffee at the New York Board of Trade reached the highest levels in more than five years. So roasters are likely to see if lower prices stick before moving the prices they ask from super markets and chains for canned coffee.

"They are much quicker to raise their prices than lower their prices," said Ann Pendergast, a softs analyst at Refco Group. "I would be surprised if roasters lowered their prices," she said."

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Posted by Jennifer at July 19, 2005 6:50 PM