(Bloomberg) -- Coffee in New York rose to a three-
month high after Brazil, the biggest producer, announced a
subsidy plan that may boost domestic prices for arabica beans.
The government said it will pay farmers as much as 40 reais
($21) to ensure they get 300 reais a bag, and will hold auctions
twice a month. Brazil will subsidize as many as 5 million bags
through the end of the harvest in October. Arabica, the mild-
tasting bean preferred by coffeehouse operators such as
Starbucks Corp., is traded in New York.
Read more at Bloomberg Commodities News
month high after Brazil, the biggest producer, announced a
subsidy plan that may boost domestic prices for arabica beans.
The government said it will pay farmers as much as 40 reais
($21) to ensure they get 300 reais a bag, and will hold auctions
twice a month. Brazil will subsidize as many as 5 million bags
through the end of the harvest in October. Arabica, the mild-
tasting bean preferred by coffeehouse operators such as
Starbucks Corp., is traded in New York.
Read more at Bloomberg Commodities News
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