Home Market Futures Markets Arabica coffe...

Arabica coffee futures rose by 12.1% last week on renewed supply concerns

Arabica futures

MILAN – Supply concerns related to the Coronavirus crisis triggered an unexpected rally at the Ice Arabica in New York: the main contract for May delivery skyrocketed by 16.7% in three days to a two-month high of US$119.70.

On Friday, the benchmark gained 700 points (+6.21%) in New York; May ICE Robusta coffee closed up +28 (+2.30%).

The “C” contract surged by 12.1% for the week, while the Robusta contract rose marginally (+$3) to US$1,244.

The rally is even more impressive if we consider that U.S. oil futures hit an 18-year low last week and cocoa futures closed at 6-month lows.

Dear Reader,
you are not required to purchase anything for certain limited use of Comunicaffe International.
However, if you do not purchase a subscription, your access to our contents will be limited.
For further information about our subscriptions please visit the subscription page.

 

If you are already subscribed please type here your credentials: