May 2012 C&CI • Coffee World • 7 INTERNATIONAL
Coffee prices see steep falls Coffee prices on the New York market took further tumbles towards the end of March, reaching a 17-month low of 178c/lb (although they subsequently bounced back by around 5 per cent as the market attempted a correction". "The speculative net short position in ICE coffee reached a record 20,544 contracts as of March 20," said McQuarie Research,
noting that this was the highest since the data was made first available by the CFTC in 2006, leaving the market vulnerable to a short-covering rally. "While most funds remain bearish due to 2012 being the year of the Brazilian ‘on’ cycle harvest, most trade houses we talk to are more
bullish," said McQuarie, "especially from these levels. "The recent dry weather in Brazil is impairing adequate cherry growth for the upcoming harvest," said McQuarie, noting that a sharp drop
in prices in February had led to panic selling from origin. "Physical availability will tighten ahead of the harvest," said McQuarie. "Even in Robusta, where short-term fundamentals look well supported due to low inventories in consuming regions, we hear that Vietnam has stepped up its selling, with March exports estimated up 25 per cent year-on-year."
US
EERC uses coffee as energy source
The Energy & Environmental Research Centre (EERC) at the University of North Dakota is leading a project to develop an efficient renewable electricity technology for coffee-processing plants. The EERC is working with Wynntryst
LLC, an energy solutions company based in South Burlington, Vermont, to develop a gasification power system to utilise the waste from coffee processing to produce energy. The project focuses on waste from Green Mountain Coffee Roasters. Its waste stream includes coffee residues, plastic packaging, paper, cloth or burlap, and plastic cups. "This project is an extension of work
performed by the EERC for NASA, which explored the conversion of waste from a space station and future Martian and lunar bases into heat and power," said Deputy Associate Director for Research, Chris Zygarlicke. "The project will similarly utilize a mostly renewable and bio-based waste and convert it into electricity for the coffee industry." "The first step of the project is to
demonstrate that we can gasify the com- plex mixture of waste and produce clean synthetic gas, or syngas, by utilizing the EERC’s advanced fixed-bed gasifier (AFBG) system on the biomass residue mixture," Project Manager and Research Scientist Nikhil Patel, explained. The syngas will then either be utilized
in an internal combustion engine (or a fuel cell) for efficient production of electricity and heat or be converted to high-value biofuels or chemicals.
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