Rio coffee circular.
--A commercial house of New Orleans recently received the following circular of Messrs. Baird
& Co., Rio Janeiro.
In view of the present state of the coffee market in this city, and the outrageously exorbitant price at which it is selling, (80a$1 per pound,) we deem its publication of some interest:
Rio de Janeiro
, Sept. 7, 1861.
--Our market throughout the past month has been firmly upheld, the very unfavorable advices from Europe
and the States preventing operations to any extent, but causing only a small decline in prices of the better qualities, which are much wanted, the ordinary descriptions being quite unsaleable.
Of the 50,000 bags that changed hands between the 7th and 15th ult., only 4,000 bags were for the United States
The export to that quarter, in August, was only 16,166 bags, against 120,037 bags in same month of last year.
Business was exceedingly limited from the 25th ult., up to the arrival of the Chelds, on 1st inst; but since then 98,000 bags have been sold.
The transactions since the 7th ult. to date amount to 157,000 bags, to wit:
|To the United States||40,000|
|To the Channel and North of Europe||95,000|
|To the Mediterranean||20,000|
|To the Cape of Good Hope||2,000|
Present quotations of the fine qualities may be obtained, as our stock being composed of the low grades principally, dealers do not like to sell the good without the bad, and if obliged to do so, get higher rates in proportion to the quantity of interior left in their hands.
The tendency of prices is upwards, and it is extraordinary with what tenacity dealers have hitherto held their lots, thus submitting eventually to a much smaller loss than could have been expected.