NEW YORK/LONDON, March 2 (Reuters) – Coffee traders are seeking advance payment in any new deal to sell beans to Russia as Western sanctions hit the financial system of the world’s sixth largest importer.
Traders in Brazil, the world’s largest exporter and No. 1 supplier to Russia, said they have added the country to a list of risky and sanctioned destinations that require pre-payment, including Syria, Lebanon and Iran.
Three Europe-based coffee traders at a major commodities trade houses told Reuters they would not take on any new supply orders with Russian roasters, adding business has in any case slowed as the Russian rouble has plunged. read more
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