Well last week was an important one for us at Armenia Coffee Corp. On October 24th, our CEO Joseph Apuzzo Jr made the following announcement:
Armenia Coffee Corporation is proud to announce that it has acquired the assets and personnel of Amcafe USA, LLC, from the Finagra Group, Joseph Apuzzo, CEO of Armenia said. “We are very excited to add Amcafe’s experience and relationships to Armenia Coffee’s renewed emphasis on sales to the commercial and specialty segments of the industry”
And so, please join us in welcoming Dave Joelson, John Coyne, Janis Cutler, Mark Kestenbaum and Izwandi Rusli to our team here at Armenia. We’re excited to move forward with them and all that they will bring to our group here.
We’re also taking this opportunity to refresh the way we speak to you and send you our list of offerings. Please be sure to check out our offer list, there’s some new coffees owing to our merger with Amcafe. We’ll be able to offer those on a going forward basis should that interest you. We’d love to have your comments on our new approach as well.
As far as the market is concerned we remain in a range defined by the last 10 days of trading, 117-125 in Dec. Origin selling matching off with spec-based buying for the most part. The Presidential election in Brazil went as expected with Jair Bolsonaro declared the President-elect. The result has kept the Real supported, continuing that trend.
Initial crop views from some of our contacts in the world’s two largest producers, Brazil and Vietnam, suggest good crops for next year in both countries. Brazil is coming off a record crop and will be off next year, but initial flowering suggests the off year might not be as “off” as one might have expected. But it’s early days, a long way to go. Initial surveys in Vietnam suggest crop might even be up from last year’s record.
The recent move higher in the C has brought some sellers back to the market, though differentials have not improved as much as one hopes in a near 20% move upwards from the lows. Most sellers just feeling as they can breathe again.
Congratulations to fans of the Boston Red Sox. 4 championships in 14 years, talk about a change of trend…
As above, our new team is eager to work with you. If there is any way we can help at all, please let us know.