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Coffee rose to over $1.00 per lb. in May and CEO Washington Rodrigues of Ipanema Coffees predicted prices will stay there 'til September or later because of "tight supply" he said in an informative interview (via easybourse.com) by Kenneth Rapoza of Dow Jones Newswires last month. So far they have, mostly: (NYBOT:KC). Rodrigues also sees international prices rising "in the near future, but worries the dollar will cut into [Ipanema's] margins, already some of the best in Brazil."Though many think of Brazil first when it comes to countries that produce coffee, beans from that market have never been a major part of Starbucks' [SBUX] offerings. In fact, Ipanema Coffees is the U.S. co.'s only current Brazilian supplier of coffee, selling them 200,000 bags of green coffee a year.
(For some inexplicable reason it's suddenly sweater-wearing weather again here in Seattle today, and so maybe that is why I keep finding myself surfing South American websites.)
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