Benchmark arabica coffee futures closed at a new 8-month low Friday, extending this week's loss on speculative selling and origin sales as top coffee producer Brazil's harvest gathers pace, brokers said.
The New York Board of Trade's active coffee contract for July delivery eased 0.55 cent to settle at 98.10 cents per lb.
It was the July contract's weakest finish since September 27, and the price is down some 25 percent since peaking this year at $1.3030 per lb. on January 30. September arabica also lost 0.55 cent to end at $1.01 a lb., while back months settled mixed - down 0.60 cent to up 0.10 cent.