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November 27, 1998

Global coffee output will probably jump 11% in 1998-99, boosted by a huge crop in Brazil, the world's biggest producer, according to a report by closely watched research company F.O. Licht in Germany. The world's coffee growers will reap 105.33 million bags in 1998-99, up from 94.6 million bags in 1997-98, Licht said in its first production estimate in the current marketing year. A bag weighs 132 pounds. Coffee prices have fallen more than 30% this year because of expectations that rising Brazilian exports will cause a glut.

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Enron Corp., the U.S.' largest natural gas and electricity trader, agreed to buy energy and services units from Imperial Chemical Industries for $497 million, expanding further in Britain. Enron will buy ICI's Teesside Utilities, which supplies steam, power, waste treatment, storage and other services. Houston-based Enron also is buying British water company Wessex Water for about $2.9 billion. ICI is Britain's biggest chemicals maker. On Wednesday, Enron shares fell $1.06 to close at $54.94 on the NYSE.

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