In addition to the moratorium, NYBOT suspended the certification of the 190,000 bags of Exchange-certified coffee being stored in the damaged warehouses until such time as the soundness of such coffee could be determined.
Upon further review, NYBOT’s Cocoa, Coffee and Pulp Warehouse Committee has determined to maintain the suspension of the certification of such coffee until such time as repairs to the warehouses have been made and NYBOT’s physical requirements for licensed warehouses have been met. The necessary repairs may take sixty (60) to seventy-five (75) days to complete.
Any owner wishing to make a September 2005 delivery of its Exchange-certified coffee, which is now located in the damaged warehouses, will be responsible for moving such coffee to a NYBOT licensed warehouse not affected by the storm damage.
The New York Board of Trade (NYBOT) is New York’s original futures exchange, where the world trades food, fiber and financial products. For well over a century, the New York Board of Trade has provided reliability, integrity and security in a global marketplace for cocoa, coffee, cotton, ethanol, orange juice, pulp and sugar, as well as currency and index futures and options. Information about the New York Board of Trade can be found at www.nybot.com and www.nybotlive.com.