Building on the relentless selling of the past three weeks, benchmark December arabica coffee futures on ICE settled down 1.9 percent at $1.015 per lb, having earlier touched $1.010, the lowest close for the most actively traded contract since Sept.
Coffee futures capped the worst rout in more than four decades as wet weather signaled bigger crops than forecast in Brazil, the world’s largest grower. Brazil may collect a record crop in 2014 after “perfect” weather, Sao Paulo-based Somar Meteorologia said
Coffee prices on Vietnam‘s domestic market, the world’s largest producer of the variety used in espresso, fell on Tuesday to their lowest since late June, discouraging farmers from selling beans, and driving buyers to the sidelines as they await fresh
Arabica coffee prices settled at a 3½-year low on expectations of an onslaught of beans from top grower Brazil. Coffee for July delivery on the ICE Futures U.S. exchange fell 2.8 cents, or 2.2%, to $1.2725 a pound on Friday,
The shortage of high-end Arabica coffee beans is also being felt in New York supermarkets and Paris cafes, as customers blink at escalating prices. Purveyors fear that the Arabica coffee supply from Colombia may never rebound — that the world