Friday 19 July 2024
  • La Cimbali

Coffee futures extend rally on supply concerns, weather fears

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Demuslab

MILAN – Futures prices in London and New York reached new multi-year highs on Tuesday on renewed supply concerns and weather fears.

In Brazil, the country’s largest cooperative Cooxupé cut its export estimate for 2016 amid rising domestic consumption and the effects of drought.

In Vietnam, rain is seen delaying cherry ripening and slowing the harvest. A stronger Brazilian real also fuelled the rally.

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