Arabica coffee edges up as Brazil currency recovers

Coffee futures on ICE rose on Tuesday as the currency of Brazil, the top exporter of both commodities, regained some ground after its recent slump.

March arabica coffee rose 0.6% to $2.3815 per lb.

Dealers said the outlook for next year’s crop in Brazil remained the key market focus after drought and frost this year damaged many trees and dented future production prospects.

March robusta coffee rose 0.3% to $2,293 a tonne as the market continued to be supported by lower exports from top robusta producer Vietnam.

For the first 11 months of 2021, Vietnam exported 1.4 million tonnes of coffee, down 2.3% from a year earlier, Vietnam Customs said in a statement.