Η νέα αυτοκρατορία του καφέ απειλεί τη Nestle

 
O όμιλος συμμετοχών JAB Holding, ο οποίος διαχειρίζεται την περιουσία της γερμανικής οικογένειας Ράιμαν, ύψους 16 δισ. δολ., επιδιώκει να δεσπόσει στον κόσμο του καφέ. Και αυτό ευθέως σημαίνει πως απειλεί τον εδραιωμένο κολοσσό της ελβετικής Nestle. Τελευταίο δυναμικό βήμα της JAB Holding προς την επίτευξη του στόχου της ήταν και η απόκτηση, έναντι 14 δισ. δολ., της Keurig Green Mountain, που κατασκευάζει μηχανές καφέ. Πρόκειται για τη μεγαλύτερη μέχρι σήμερα εξαγορά στον κλάδο. Τα τελευταία τέσσερα χρόνια διεξάγεται μια μεθοδική εκστρατεία συλλογής περιουσιακών στοιχείων στην Ευρώπη και στις ΗΠΑ.
Συνολικά 30 δισ. δολ. διοχετεύθηκαν από τους Πίτερ Χαρφ, Μπαρτ Μπεχτ και Ολιβιέ Γκουντέ, τους τρεις έμπειρους μάνατζερ της JAB Holding με πολυετή θητεία στα τρόφιμα και ποτά, στις εξής εταιρείες παραγωγής και επεξεργασίας καφέ: την D.E. Master Blenders 1753NV, μονάδα της ολλανδικής πολυεθνικής Mondelez International, και την αλυσίδα καφέ και τσαγιού με χαρμάνια πολυτελείας Peet’s Coffee & Τea στις ΗΠΑ.
«Η JAB εφαρμόζει μια πολύ ευρύτερη στρατηγική, προκειμένου να αναδειχθεί στην Budweiser της αγοράς καφέ», επισημαίνει στο ειδησεογραφικό πρακτορείο Bloomberg o Πάμπλο Ζόνικ, αναλυτής της Susquehanna Financial Group, αναφερόμενος στον διεθνώς μεγαλύτερο όμιλο ζυθοποιίας Anheuser - BuschInBev NV με την πολύ γνωστή μπίρα Budweiser/Βud. «Οπως συνέβη η συσπείρωση δυνάμεων στην μπίρα υπό την Βud, σε κάτι ανάλογο προσβλέπουν και στον καφέ».
Πέραν της στρατηγικής επένδυσης στον καφέ, oι Χαρφ, Μπεχτ και Γκουντέ τοποθετούν τα κεφάλαια της πάμπλουτης οικογένειας Ράιμαν και σε μια ευρεία γκάμα εταιρειών καταναλωτικών ειδών, από την αρωματοποιία Coty μέχρι τη Reckitt Benckiser με τα προφυλακτικά Durex, τα απορρυπαντικά πλυντηρίου πιάτων Finish και τα παυσίπονα Neurofen. Αξίζει να αναφερθεί πως οι τρεις μάνατζερ έχουν υλοποιήσει και άλλες μεγάλες εξαγορές πέραν της Keurig Green Mountain, όπως της ζυθοποιίας SABMiller από την ΑΒ ΙnBev έναντι 110 δισ. δολ. και μερικών σημάτων ομορφιάς της Procter & Gamble από την Coty έναντι 12,5 δισ. δολαρίων. Οι αδελφοί Ράινμαν (Ρενάτε, Βόλφγκανγκ, Στέφαν και Ματίας), οι οποίοι δεν επιζητούν δημοσιότητα, μετέφεραν την έδρα τους από το Λουντβιχσάφεν της Γερμανίας στη Βιέννη για λόγους φορολογικούς.

Sugar jumps on short-covering with more rain headed for Brazil

NEW YORK/LONDON: Raw sugar futures on ICE surged more than 3 percent on Tuesday, taking back much of the prior week's losses in a flurry of short-covering as the currency in top grower Brazil firmed and rain in the country's main cane region hindered harvest.
Cocoa futures were little changed, hovering below 4-1/2-year highs reached last month, while arabica quietly extended losses after Monday's 3.4 percent tumble with rains in Brazil expected to improve the outlook for next year's crop.
ICE March raw sugar futures settled up 0.51 cent, or 3.4 percent, at 15.44 cents a lb. The move caused the March/May spread's discount to narrow for the fourth straight day to as much as 0.45 cent, a contract high.
Initial market weakness was spurred by data released late Monday showing speculators had sharply boosted their net long position to the highest since records became publicly available in 2006.
Forecasts for continued rain in Brazil, which will slow mills' pace of crushing and possibly lower the sugar content, combined with the firming real, brought heavy short-covering into the market, traders said.
"The fresh fundamental news is strongly in favor of the bulls with heavy rains forecast in early December over harvest areas in center-south Brazil," Thomas Kujawa, co-head of the softs department at Sucden said, adding there were also concerns about dry weather in South Africa and Australia.
Producer hedge-selling was seen taking advantage of the rally, traders said.
ICE March white sugar futures rose $11, or 2.7 percent, to settle at $414 per tonne.
For arabica coffee prices, these forecasts for rains in Brazil contributed to a decline in prices as the much-needed precipitation is expected to help cherry development.
"One factor weighing on prices is the prediction of further rainfall in key growing areas in Brazil," Commerzbank said in a daily market report.
"This will help the coffee berries to develop, which are due to be harvested from April 2016."
ICE March arabica coffee futures closed down 0.25 cent, or 0.2 percent, at $1.199 per lb.
January robusta coffee rose $12, or 0.8 percent, to close at $1,490 per tonne, recovering after hitting a contract low of $1,467.
London March cocoa settled down $2, or 0.1 percent, at 2,279 pounds per tonne, while New York March cocoa futures finished down $2, or 0.06 percent, at $3,337 a tonne.

Coffee Drops As Higher Production, Currency Pressures Hit Market

Coffee futures dropped sharply as trading picked up following the long Thanksgiving weekend.
Arabica coffee for March delivery dropped 4.1% to $1.185 a pound on the ICE Futures U.S. exchange, the largest percentage drop in a month-and-a-half.
Several bearish factors for coffee compounded at once last week. Rains in Brazil, the world's largest growing region, became more widespread in previously dry areas, boosting production ideas. Colombia, the second-largest producer of the mild-flavored arabica bean, released data showing production is up over last year. Vietnam, the largest producer of robusta beans for instant coffee, is exporting at a faster rate than last year.
A strong dollar also weighed on commodities across the board.
"Usually coffee doesn't like to act before a long weekend," said Hernando de la Roche, senior vice president at INTL FCStone in Miami. "The market was very slow. People came back from the holiday and they started selling the market to be in line with what happened with the commodities last week."
Mr. de la Roche said a move downward in the Brazilian real against the dollar is also adding pressure to prices. The real was down 1.3% recently against the dollar, trading at a one-month low. When the real is weak against the dollar it encourages sales of dollar-denominated goods like coffee as producers take advantage of the favorable exchange rates to recoup higher profits in their local currency.
The U.S. Commodity Futures Trading Commission released data showing that hedge funds, speculators and other investors were shorting the market by the highest margin so far this year, with bearish bets outweighing the bulls by 27,700 contracts as of Nov. 17. ED&F Man's Volcafe said a bout of futures buying to cover short positions slowed losses.
In other markets, cocoa for March was up 1.1% to $3,347 a ton, raw sugar for March lost 1.1% to 14.80 cents a pound, March cotton dropped 0.5% to 63.64 cents a pound and frozen concentrated orange juice futures rose 0.3% to $1.4365 a pound.
Write to Julie Wernau at julie.wernau@wsj.com
Corrections & Amplifications
This item was corrected 12:35 p.m. ET because it misstated the dates covered by the CFTC data in the seventh paragraph.