The Exchange had previously declared that no delivery notices could be issued for coffee in the port and no further coffee stored in the port could be certificated as meeting Exchange standards until such date as the Board determines. After conducting on-site inspections of the warehouses the Exchange determined to notify all of its licensed warehouse operators that the Exchange intends to suspend the license of certain stores, as follows:
| S. Jackson & Son, Inc. | Store 7 | 1601 Jefferson Highway |
| Dupuy Storage & Forwarding Corp. | Store 1 | 4300 Jourdan Road |
| Store 2 | 13601 Old Gentilly Road | |
| Store 10 | 1400 Montegut Street |
|
| Store 18 | 5300 Gentilly Road |
|
| Port Cargo Service, Inc. | Store 4 | 800 Atlantic Avenue |
| Store 4C | 700 Atlantic Avenue |
|
| Store 6 | 6040 Beven Street |
There are reported to be 561,392 bags of certificated coffee held in the eight stores.
Each warehouse operator has a right to a hearing before the Exchange issues a final decision. The NYBOT Board also determined, pursuant to Exchange Rule 7.23(b), that if the license of any store is suspended, any certificated coffee located in that store will lose its certification unless the license is reinstated or the coffee is moved to another licensed store that is not suspended on or before December 31, 2005.
In addition, the NYBOT Board determined that certificated coffee held in New Orleans which is not presently deliverable under the action taken on August 29, 2005, could become deliverable if it was tested and found to meet standards that the Exchange would be establishing to ensure, among other things, that the coffee was not contaminated. None of the Exchange’s duly licensed warehouses may accept coffee currently held in the stores listed above until such coffee has been found to meet those standards.
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.
