SAO PAULO: Brazil's main coffee exporter association Cecafe and a subsidiary of information management firm Experian Plc next week a will launch system for tracking and enforcing coffee sales, the group told Reuters on Friday.
The move comes as strong price fluctuations for coffee have led to fears that some producers might back out of forward sale agreements, something that has happened in isolated cases with other farm exports in Brazil.
The system Sao Paulo-based unit Serasa Experian has put into place, which has not been previously reported, already has buyers making up about 70% of the market onboard, Cecafe said.
Cecafe head Marcos Matos said that while there have not yet been any cases of coffee sellers reneging on their contracts, informal talk of that possibility has circulated among coffee producers.
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