Coffee futures were positive mode in the past session after arabica prices have been declining sharply from last month’s more than two-year peak.
March arabica coffee was up 0.3 cents, or 0.3%, at $1.1520 per lb, edging away from the prior session’s 1-1/2 month low of $1.1370. Dealers said the recent rise in ICE certified arabica stocks and the large volume of coffee waiting to be graded had helped to put the market on the defensive.
Rising production in Colombia has also helped to reduce supply concerns.
March robusta rose $9, or 0.7%, to $1,329 a tonne.