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Arabica Coffee Futures Slip as Weather Improves in Brazil

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Arabica Coffee Futures Slip as Weather Improves in Brazil

Arabica coffee futures dipped yesterday, reversing the six-month high reached on Friday. The main contract for March delivery in New York lost 495 points (-2.7%) to close at 179.40 cents per lb. The decline was attributed to improved weather forecasts in Brazil, where rains are expected to increase in the second half of December, providing relief and boosting crop prospects.

Weakness in Brazilian Currency Exerts Pressure on Prices

Another factor putting pressure on coffee prices was the weakness of the Brazilian real. The currency fell to a one-month low against the dollar on Monday, encouraging export selling and contributing to the decline in futures prices.

Honduras’ Coffee Exports Surge

Exports from Honduras, Central America’s largest coffee producer, saw a significant increase. According to preliminary data from the National Coffee Institute of Honduras (IHCAFE), exports surged 62.7% year-on-year to reach 110,413 bags. Cumulative exports for the first two months of the current coffee year were also higher, totaling 109,494 bags, a 17.91% increase compared to the previous year.

However, IHCAFE expects that exports for the current October 2023 to September 2024 crop year will be 6.60% lower than the previous year, totaling 4.98 million bags.

London Coffee Futures Down as Vietnam’s Harvesting Conditions Improve

In London, coffee futures also declined from the previous week. The main contract for January delivery closed $26 lower at $2,546. The weather in Vietnam has been favorable for harvesting, thanks to cooler temperatures and drier conditions, leading to an increase in the flow of coffee from the new crop.

Analysts Forecast Higher Production for Brazil’s Next Crop Year

Analysts at Safras & Mercado predict higher production for Brazil’s next crop year. For the July 2024 to June 2025 crop year, production is expected to range between 69 and 71 million bags, a 5% increase compared to the current crop year, estimated at 66.65 million bags. Arabica production is projected to be between 46 and 47 million bags, while Conilon Robusta production will see a slight increase to total between 23 and 24 million bags.

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Coffee Industry and News

Probat Acquires AC Horn Manufacturing: A Strategic Move in the Food Processing Industry

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Probat Acquires AC Horn Manufacturing: A Strategic Move in the Food Processing Industry

Strengthening Competitive Advantage

Probat, a global leader in coffee roasting plant and machinery, has announced the acquisition of AC Horn Manufacturing, a premium food processing equipment producer based in Texas, USA. This strategic investment aims to enhance Probat’s competitive edge through new technological capabilities and synergies to further expand in the global food market.

Complementary Portfolio and Shared Commitment

AC Horn, originally a small sheet metal business founded in 1907, has grown into a leading global supplier of food processing equipment. The acquisition complements Probat’s products and services, particularly in nut and snack processing, while also increasing production efficiency through greater vertical integration. Both companies share a strong commitment to customer satisfaction, setting them apart in their industries.

Expanding Product Offerings and Expert Teams

Probat’s strategic focus on business growth includes investing in complementary portfolios to expand its product offerings. The acquisition of AC Horn provides opportunities to add resources, build stronger expert teams, and offer customers individualized and future-proof solutions.

Shared Future and Cultural Similarities

Michael Horn, President & CEO of AC Horn Manufacturing, expresses excitement about joining Probat, noting cultural similarities between the two companies. He looks forward to the new journey and building on the strong brand that his family has developed over the last 117 years. The shared future aims to bring value and quality beyond customer expectations.

A.C. Horn’s Expertise and Product Range

AC Horn is a world leader in snack food processing equipment, known for quality design, reliability, and a range of products including roasters, dryers, grinders, and more. The company serves both small and large snack food manufacturers worldwide with unparalleled expertise and offerings.

Probat’s Legacy and Global Reach

With over 150 years of experience, Probat is a pioneer in coffee industry solutions, offering roasters, grinders, plant controls, and comprehensive services. With subsidiaries and agencies around the world, Probat’s expertise is utilized globally to provide innovative solutions for the coffee processing industry.

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Swiss Coffee Machine Wins Prestigious iF Design Award Gold

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Swiss Coffee Machine Wins Prestigious iF Design Award Gold

Impressive Achievement

Franke Coffee Systems, led by CEO Marco Zancolò, is celebrating a significant milestone as their Mytico coffee machine from the Beyond Traditional product category has clinched the esteemed iF Design Award Gold. Out of nearly 11,000 entries, only 0.7% were honored with this prestigious accolade, making this win a remarkable feat.

Recognition of Excellence

The Mytico stood out to the jury of 132 international design experts for its innovative fusion of technology, Italian design, and user-friendly features. The seamless integration of traditional Italian coffee machine aesthetics with modern automated functionalities was a key factor in securing the Gold Award for Franke Coffee Systems.

Unveiling Unmatched Design

Developed in collaboration with Emo Design in Italy, the Mytico product line embodies impeccable Italian design complemented by Swiss engineering excellence. Its unique appearance and practical features aim to enhance the coffee experience, allowing users to focus on creating memorable moments with every cup brewed.

Industry Recognition

The iF Design Award Gold marks the fifth major accolade for the Mytico product line, following prestigious awards such as the Good Design Award and the German Design Award. This recognition solidifies Franke Coffee Systems’ commitment to delivering top-notch quality and innovation in the coffee industry.

About Franke Coffee Systems

Franke Coffee Systems, a division of the Franke Group, is dedicated to providing cutting-edge solutions with professional automatic coffee machines. Their passion for excellence and customer satisfaction drives them to continuously push boundaries and set new standards in the industry. Learn more about their innovative products at coffee.franke.com.

Prestigious Design Recognition

Since its inception in 1954, the iF Design Award has been a symbol of exceptional design quality. The iF label is synonymous with excellence in design services globally, making the iF Design Award one of the most prestigious honors in the design world.

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Coffee Industry and News

La Marzocco and Hemro Launch Hands for Songwa Foundation in Tanzania

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La Marzocco and Hemro Launch Hands for Songwa Foundation in Tanzania

New Foundation to Support Sustainable Coffee Industry

Guido Bernardinelli, CEO of La Marzocco, emphasizes the growing consumer demand for specialty coffee with a focus on origin and production methods. The Hands for Songwa Foundation aims to empower coffee farmers and create a sustainable industry.

Roots of the Initiative

The foundation stems from the Songwa Estates project, which began in 2007 with collaboration from La Marzocco, Hemro, and Probat. Probat will shift focus to other projects in January 2024, while La Marzocco and Hemro will continue their support and invite new partners in the future.

Community Development in Tanzania

The Songwa Estates Project has improved the quality of life near the Songwa plantation through infrastructure projects funded by La Marzocco, Hemro, and others. This includes wells, school renovations, and support during the pandemic, enhancing education and personal growth for collaborators.

Empowering Women in Agriculture

The foundation prioritizes women in sustainable agro-economic development, focusing on environmentally friendly practices, community nurseries, and small coffee plots. The Hisuimbe Project introduces a microcredit system to empower women producers within the association.

Future Initiatives and Support

La Marzocco and Hemro plan to continue supporting the community and explore new initiatives for local economic development. They will advocate for ongoing projects, maintain a close relationship with the Songwa plantation, and provide training opportunities and research projects.

How to Support

The non-governmental organization in Dar es Salaam now accepts direct donations to execute projects in the region, aiming to uphold the original mission and benefit the broader community. For more information and to stay updated on the project, visit the provided links.

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