LONDON: Arabica coffee futures on ICE fell to a 14-month low on Friday, pressured by an improving outlook for next year’s crop in Brazil and concern that a global economic downturn could curb demand. COFFEE
December arabica coffee fell 0.95% to $1.7720 per lb?? at 0942 GMT? After touching a 14-month low of $1.7705. “Besides the current concerns about global demand it has recently come under pressure from the supply side: the favourable weather in Brazil of late has noticeably improved the outlook for the upcoming crop season,” Commerzbank said.
The bank added in a note that a weaker Brazilian real had also increased the incentive to export more coffee. January robusta coffee fell a marginal 0.1% to $1,876 a tonne, hovering just above a 14-month low of $1,872 set on Wednesday.
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