BRAZIL TO REOPEN COFFEE EXPORT REGISTRATIONS

BRAZIL TO REOPEN COFFEE EXPORT REGISTRATIONS

Brazilian coffee export registrations will open Monday, with exporters permitted to register 12 months into the future under new export registration rules, said the Economy Ministry's Foreign Trade Coordinating Committee Tuesday.

The new rules will offer exporters greater options over prices and shipment periods, a committee spokesman said.Export registrations effectively have been closed since March 16, when Brazil's government eliminated the Brazilian Coffee Institute, traditionally responsible for setting export rules and authorizing shipments.

Under the new rules, exporters will be able to register shipments up to 12 months in advance. Under the old system, the IBC regulated registration periods, which at times were extended for up to six months ahead, but which at other times were restricted to as few as two.

Registrations will be made with agencies of the Bank of Brazil in the cities of Paranagua, Rio de Janeiro, Salvador, Santos, Sao Paulo, Varginha and Vitoria. In the past, registrations were conducted through IBC offices, of which there were several dozen throughout the country.

Exporters may set the price of shipment at the time of registration or they may make their registration stating "price-to- be-fixed," the spokesman said. However, in the case of prices "to-be- fixed," exporters must determine the price by the last working day of the month before the month of shipment.

All coffee shipments will continue to be subject to minimum export prices. Such prices will be set in accordance with "differentials for Brazilian coffee types" in New York and London exchanges, the committee spokesman said.

He said in the case of registrations based on prices-to-be-fixed, such prices, when they are fixed, must conform to the minimum price of the day they are fixed rather than the date of registration or the date of shipment.

Registrations may be made by presenting a telex to authorized Bank of Brazil agencies.