Arabica Coffee Sets 7-Month Low As Supplies Seen Growing
From: brecorder.com
Arabica coffee futures on ICE fell to a seven-month low on Friday weighed by weakening demand and the prospect of increasing supplies.
Raw sugar futures closed up, recovering from earlier losses.
July arabica coffee settled down 2.8 cents, or 2.8%, at 96.3 cents per lb, a seven-month low.
“Worries regarding potential disruptions to harvests in Brazil, Colombia and Indonesia were giving support to the market, but so far we haven’t seen major problems,” said Fernando Maximiliano, coffee analyst for INTL FCStone.
