Colombia Cash Coffee: Diffs Stronger On Early Mitaca Supply

BOGOTA (Dow Jones)--Physical trade was slow this week in the Colombian cash arabica coffee market as cash differentials remained firm on the current tight supply, local and foreign traders and exporters said Friday.

But traders said that after a slow start to the mitaca, or mid-crop, the first lots of fresh beans were now starting to reach the market and although differentials remained firm, differentials for the more commercial grades started to show signs of weakening.

"It's been quiet. People are talking about delays in the mid-crop harvest and a reduction in the quantity," said a Bogota-based trader with a major exporter.

Physicals traders in New York, however, said the local market was exaggerating the slow pace of the harvest, saying that exports and production figures had been "remarkably stable" during the past five years and the harvest was just about to start.

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