"Premiums were adjusted down since the benchmark prices in London rose," the trader said. "Even so, it is hard to export since the stockpile is too low and mini harvest hasn't come yet."
The Central American nation exported 590,481 60-kg bags in January, compared with 718,886 in the same month last year, according to preliminary data from IHCAFE.
Honduran coffee growers were hammered by the intense rains wrought by Hurricanes Eta and Iota last November, which worsened a pre-existing outbreak of coffee leaf rust, also known as roya, a chronic problem for the country's farmers, Ordoñez said.
Meanwhile, in Indonesia's Lampung province coffee prices remain unchanged with Sumatran robusta beans being offered with a $250 premium to the March contract and a $290 premium to the April contract, traders said.
U.S.-based raw sugar, arabica coffee and New York cocoa futures contracts were shut on Monday for Martin Luther King Jr. Day and will reopen on Tuesday.