00:0029 августа 199700:00
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00:0029 августа 1997
In London coffee prices have risen sharply. The rise in price is attributed to the drivers' strike that is going on in Columbia. The warm stream of the El Nino in the Pacific Ocean has reflected negatively on cacao prices. Traders fear that this year w
<BR>In London coffee prices have risen sharply. The rise in price is attributed to the drivers' strike that is going on in Columbia. The warm stream of the El Nino in the Pacific Ocean has reflected negatively on cacao prices. Traders fear that this year will be a bad harvest year for coffee because of the El Nino. Panic on the cacao market was such that active December contracts grew to a price of 1107 British Pounds per ton. Prices for September contracts reached a maximum level over 7 weeks. In Chicago grain contracts jumped up in price thanks to increased demand on the part of importers because of prognoses of early freezes. Soy and corn prices also grew. The prices of precious metals also rose. The metals market for the platinum group has been very unstable since the beginning of 1997 because of the lack of the leading purveyor: Russia, who mines 67% of the world's palladium. Russia renewed the delivery by ship but in the middle of August it was again disrupted.<BR>
