Green Coffee Association stocks for March should expand due to a seasonal increase in the amount of shipments from top grower Brazil, analysts said Tuesday.
They predicted GCA coffee stocks would rise by 150,000 to 300,000 bags. GCA said stocks stood at 5.828,334 bags as of February 29, up 204,590 bags from January.
The monthly GCA coffee stocks report will be released on Thursday at 3:00 pm EST (1900 GMT).
Brokers said there is also renewed interest from roasters in booking cargoes of beans, and exporters are also trying to secure space in warehouses.
The increased pace of Brazilian coffee shipments seems to be borne out by news that farmers have sold an estimated 85 percent of Brazil's 2003/04 coffee crop by March 31, according to analysts Safras e Mercado.
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