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Re: Brazil , ICE certified coffee and exports to producing countries .
I agree with you , Brazilian coffee was economically viable to certify in August and September 2020 . Today , February 2021 is no longer . Other producing countries sell their coffees for export with premiums in relation to the ICE base, so they will not certify until economically it is a good option. There is no conspiracy theory, there is demand and supply. Until a few months ago the supply was bigger than the demand in a time horizon , example , until May 2022 , now it is not anymore . There is a deficit forecast for the year 2021 of approximately 25 million bags by the producing countries. Who will supply this coffee? The stocks in the importing countries will be used and this includes the certified coffees in both IaCE, NY and London markets.