A major coffee exporter, Montesanto Tavares Group Participações SA, has been denied a request for a 60-day grace period on debt repayments by a Brazilian judge.
The ruling, issued by Judge Murilo Silvio de Abreu, has left the future of the coffee exporters uncertain as they face financial challenges.
The decision affects companies under the coffee group, specifically Atlântica Exportação e Importação SA and Cafebras Comércio de Cafés do Brasil SA, which had jointly filed for the grace period.
The initial ruling can still be appealed.