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Global Food Prices Risk Spiking on Worst-Ever Drought in Brazil [Yahoo! Finance]
Last starbucks corporation earnings: 4/28 04:05 pm
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(Bloomberg) -- For six months, not a drop of rain fell on José Orlando Cintra Filho's coffee crops. Most Read from Bloomberg The white flowers that typically inspire hope of a good arabica harvest — the bean variety favored by chains including Starbucks Corp. — still haven't blossomed. Instead, the trees withered. Cintra Filho, knowing he didn't have enough water in his reservoirs, stopped irrigating his farms and trimmed some branches earlier than usual. Next year's harvest is already shrinking. “I've been in coffee for 36 years and I have never been through this,” he said, hectares of parched trees surrounding him in a major coffee producing area known as Mogiana Paulista. The worst drought in Brazil's history is doing more than jeopardizing coffee, sugar and soybean crops. Dead vegetation is giving way to fires, sending greenhouse gases into the atmosphere and disappearing more of the Amazon rainforest. Key rivers, responsible for transporting a third of the nation's prize
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