Louis Dreyfus Loosens Grip on Robusta coffee stocks Ahead of Contract Change

From www.reuters.com

Louis Dreyfus Company has offloaded the bulk of its certified robusta coffee stocks ahead of a rule change that will make it more expensive to carry the coffee forward, industry sources told Reuters.

Some 59,270 tonnes of robusta coffee has changed hands in the delivery period that began at the start of this month, Intercontinental Exchange (ICE) data showed on Friday.

This is equivalent to about 76 percent of certified stocks currently held in European warehouses.

Industry sources said the bulk of this was tendered on behalf of Louis Dreyfus Company (LDC), signaling that the trade house is unwinding its majority hold on certified stocks.

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