Sunday 14 August 2022

Arabica coffee futures rally strongly on Brazil’s export figures, Robusta down 0.8%

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MILAN — Arabica coffee futures rebounded strongly on Tuesday from Monday’s lows. The ICE Arabica contract for March delivery closed 3.8% or 845 points up at 231.75 cents on reports of smaller coffee exports from Brazil. ICE Robusta opened the year on a softer note: the benchmark contract for March delivery fell 0.8%, or $21, closing at a two-week low of $2,350 a tonne.

The contract hit a 10-year high of $2,384 last Thursday, December 30th 2021.

The Brazil government have reported that the country’s coffee exports for the month of December were 17.2% down at 3.586 million bags from 4.330 million bags in 2020.

The current export figures from Brazil are influenced by Covid-19 related logistical restraints, updated shipping line reports foresee that these shipment restraints are likely to continue, into the New Year.

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