MILAN – Arabica coffee futures traded higher for the 2nd consecutive session on Tuesday. The benchmark contract for December delivery gained 400 points reaching a new high of 156.80 cents per lb. ICE Robusta futures for November delivery fell a marginal $2 or 0.1 percent to US$1,958 per tonne.
Arabica prices surged on a new report from Varginha, Minas Gerais-based Fundação Procafé stating the trees were flowering at least 2 weeks earlier than normal in Sul de Minas.
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